The temporary administration of Hercegovacka Bank announced today a public call for the sale of the bank and the companies owned by it, whose operations were blocked by the intervention of the international community in April 2001.
In the new international tender, potential investors from Bosnia and Herzegovina and abroad are given the opportunity to submit offers for recapitalization, purchase, merger, or acquisition of Hercegovacka Bank by another bank within 30 days. After that, a special commission will determine the list of preliminary offers, after which investors will be invited to submit final offers. Before that, they will be allowed due diligence. The temporary administration stated that priority on the list of interested parties will be given to investors who offer a higher amount for recapitalization, a higher purchase price, who have better creditworthiness, and who offer better business conditions for the bank and its subsidiaries. Hercegovacka Bank d.d. Mostar, under temporary administration, has a business network of 14 branches in the Federation of Bosnia and Herzegovina and holds shares in several companies. (H)
