ZAGREB, Jan 27 (Hina) - The Croatian Privatisation Fund (HFP) and Slovenia's Terme Catez company are conducting talks on the details of the sale of Croatia's Suncani Hvar hotel company. If an agreement is reached and certain
improvements are presented, a draft contract could find its way to the government's table as soon as this week, HFP deputy president Kresimir Starcevic said Monday.
ZAGREB, Jan 27 (Hina) - The Croatian Privatisation Fund (HFP) and
Slovenia's Terme Catez company are conducting talks on the details
of the sale of Croatia's Suncani Hvar hotel company. If an agreement
is reached and certain improvements are presented, a draft contract
could find its way to the government's table as soon as this week,
HFP deputy president Kresimir Starcevic said Monday. #L#
He dismissed accusations about any tricks, deception or
insinuations surrounding the offers for the purchase of Suncani
Hvar.
During the talks, the Slovene company agreed to invest EUR45
million into hotels and other catering services for five years, but
there is the possibility of a shorter investment period -- three
years instead of five, and that this period be in line with the
guarantee the company is offering, Starcevic told reporters.
The Fund's expert services have considered two offers for the
purchase of Suncani Hvar's shares and suggested that the government
accept that of Terme Catez, which proved to be better, Starcevic
said.
The other bidder, Slovenia's Kompas, did not get back to the Fund,
accepting the decision, he said.
Terme Catez is offering a higher price for 62.3 percent of the
Croatian company's shares. Overall investments are covered by
first-class bank guarantees of EUR10 million (Bank Austria) for
three years, and the company's standing analysis has shown that
Terme Catez is by far a stronger company.
Asked about this Slovene company's ownership structure, Starcevic
said that after a long time, a company, listed on the Ljubljana
stock exchange, appeared.
According to him, the share of the Nova Ljubljanska Bank in the
Terme Catez company independently, is smaller than that of
Privredna Bank Zagreb, but Starcevic did not cite any percentage.
The HFP got the information about the ownership structure from the
company, and in accordance with the Croatian government's
decision, it also requested an official list of stockholders, said
Starcevic. The list should be submitted in a day or two.
(hina) lml sb