The Croatian Privatization Fund (HFP) is expected to open bids today for the purchase of 55.19 percent of the shares of Hotel Živogošće and 51.17 percent of the shares of Hotel Podgora.
The starting price for the majority stake in Hotel Živogošće is 12.36 million kuna, which is 20 percent of the nominal value of the offered ownership stake, while the price for the majority stake in Hotel Podgora, at 10.4 million kuna, represents 15 percent of the nominal value. For both hotel companies, bidders must, among other things, commit to settling all their due obligations, waive claims against the state based on war damages, retain employees for at least one year, and maintain the core business activities of the companies.
