Mondragon Corporation's Diknua cooperative has paid $1.5 million for Newfoundland and will retain 56 jobs
The cooperative Diknua of the Dikar group has paid 1.5 million euros for the textile company Ternua. The group that belongs to the Mondragon Corporation will also maintain the 56 jobs that Ternua has in the Basque Country "respecting working conditions and seniority".
According to the order dated October 7, Diknua will pay $1.5 billion for the company and pay the corresponding taxes.
The court ruling states that Diknua's offer "meets the requirements" and will take over the 56 jobs available to the factory, which means "saving about 1.2 million euros, which must be considered as an indirect economic value".
According to the car, Dikar "is a cooperative with a proven track record in the sector and is funded by third parties to deal with the operation."
For the Competition Authority, "the transaction is legally valid, economically reasonable and in accordance with the competitive interest, highlighting the consistency of the price with the perimeter, the feasibility of continuity, the added value of the assumption of personnel and the absence of other viable proposals".
The order may be challenged within five days, and it is stated that the transaction is "in the interest of the competition", since it "ensures the continuity of the enterprise, the maintenance of jobs and immediate liquidity in the payment of credits".
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