Only one offer for Đuro Đaković Montaža – Bilfinger Berger

For the purchase of Đuro Đaković Montaža within the deadline, today by 12 o’clock, only one offer has been received – Bilfinger Berger Power Services GmbH, and this offer fully meets the formal requirements of the tender, reported Đuro Đaković Holding.

"The decision on the selection will be made by the competent authority no later than January 23, 2009," it is stated in the announcement after the opening of offers for the purchase of shares of Đuro Đaković Montaža. A total of five companies expressed interest in purchasing shares of Montaža and the terms of the offer within the deadline (November 18), including the aforementioned Bilfinger Berger, two foreign companies – Austrian Energy&Enviroment AG from Vienna and German Kraftanlagen Muenchen GmbH, as well as two domestic companies – Konstruktor engineering and the Institute of Construction of Croatia (IGH). After raising the terms of the offer and signing a confidentiality statement, these companies were allowed to conduct due diligence on Đuro Đaković Montaža, and, in accordance with the tender, offers could be submitted until today, by 12 o’clock.

"It has been established that only one offer was received within the deadline, namely Bilfinger Berger Power Services GmbH, and it was opened on the same day, December 16 at 1:00 PM. The offer fully meets the formal requirements of the tender," stated Đuro Đaković Holding. This Holding published a tender for the sale of shares of Đuro Đaković Montaža in several daily newspapers and Narodne novine at the end of September and beginning of October. The starting price for a package of 126,594 shares of Montaža, which constitute 50 percent plus one share in the company’s share capital, is 63.29 million kuna or 500 kuna per share.

According to the tender, the decision on the most favorable bidder will be made no later than January 23, 2009. Đuro Đaković Holding, as stated in the tender, reserves the right to accept any offer/offers that meet the terms of the offer or not to select any of the bidders, or to repeat the call under the same or modified conditions, without bearing any responsibility to any of the bidders or having the obligation to inform the bidders of the reasons for such action. The bidder/bidders whose offers are deemed acceptable by the Holding will proceed to the negotiation process, and the selected bidder will, upon completion of that process, proceed to conclude the Sale/Transfer Agreement for the shares, as stipulated in the tender. (H)