ZAGREB, Jan 23 (Hina) - The Croatian government on Thursday decided to sell 62.3% of shares of the "Suncani Hvar" hotel company to Slovenia's Terme Catez. The decision was opposed by government ministers and vice-premier from the
Croatian Peasant Party (HSS).
ZAGREB, Jan 23 (Hina) - The Croatian government on Thursday decided
to sell 62.3% of shares of the "Suncani Hvar" hotel company to
Slovenia's Terme Catez. The decision was opposed by government
ministers and vice-premier from the Croatian Peasant Party (HSS).
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The government also adopted a conclusion binding the Croatian
Privatisation Fund (HFP) to secure, during talks on the sale
contract with Terme Catez, all necessary guarantees for planned
investments and clear up potential misunderstandings regarding the
credibility of the Slovene company, i.e. its ownership structure.
The HFP was also bound to report to the government about the draft
contract before its signing.
Terme Catez offered 74.5 million kuna (EUR9.93 million) for 62.3%
of Suncani Hvar shares. The company also obliged itself to keep all
current employees for a period of one year, increase the number of
employees by about 38% by 2008 and invest 62.6 million euros in the
company in the next five years.
Three ministers from the HSS were against the decision, while Vice-
Premier Ante Simonic, also a HSS member, opposed the decision,
requesting that the government first define the concept of
development of tourism and strategic destinations.
(hina) rml sb