The government today announced on the website of the Ministry of Finance a call for expressions of interest and the collection of non-binding offers for the acquisition of shares in Croatia osiguranje.
The government holds a total of 80.2 percent of the shares, and as they emphasize, the transaction will be conducted through an open international bidding process in such a way that, after the sale, the government retains ownership of at least 25 plus 1 shares, or a maximum of 30 percent of the capital-enhanced Croatia osiguranje shares.
Interested investors are invited to submit their expression of interest in writing to the financial advisor by August 31, marked ‘Privatization of Croatia osiguranje’.
After that, the financial advisor will provide investors with an Information Memorandum and a Summary of Company Information, and will inform them about the further course of the process.
Investors who express interest will be invited to submit their non-binding offer by September 20, 2013.
As a reminder, according to estimates by the consulting firm KPMG, Croatia osiguranje is currently valued at 210 million euros.
This company recorded a gross profit of 140 million kuna in 2012, and according to the latest estimates, it owns a real estate fund worth two billion kuna.
