The group sent letters to a number of EU institutions pointing to what it calls the HFP's non-transparent decision, and notified diplomatic circles.
The letter with the complaint was also sent to the Croatian president, the prime minister, the World Bank Office in Croatia, the IMF representative for Croatia, the Croatian Competition Agency, and the Lithuanian government.
UBIG has launched several campaigns to draw the attention of the Croatian and European public and expert circles to what it believes is an unsatisfactory criterion on the basis of which the HFP decided to sell its 80.2 percent share in the TLM on April 12.
UBIG has decided on the latest move despite the fact that it has not received an official notification from the HFP yet. However, it believes that EU institutions should be informed as soon as possible about the non-transparent behaviour of the HFP Management Board, which it claims has brought Croatian taxpayers in a situation where they will have to take over the payment of the TLM's debt of 68 million euros.
UAB Ukio Banko Investicine Grupa (UBIG) believes that the selection of the Consortium to take over and manage the TLM as the company's new owner is economically irrational and unfair, UBIG representatives said at a news conference on April 13.
The day before, the HFP Management Board decided to sell an 80.2 percent stock in the TLM to the consortium consisting of Dalekovod, Konstruktor Inzenjering, Zagreb-Montaza, AluFlex Pack and Feal companies.
UBIG said that the consortium offered one kuna for the stock, while it offered 4.5 million euros; the consortium accepted to settle a part of the TLM's debt amounting to some 12 million euros, while UBIG offered around 80 million euros. The consortium said it would make investments worth 107 million euros, while UBIG offered investments worth 103 million.
The decision on the sale of the TLM is yet to be approved by the Croatian government.