ZAGREB, May 31 (Hina) - The Croatian government has been informed about a significant number of companies interested in the privatisation of the country's oil company INA. Since this is the first phase of the process, the exact number
will not be made public yet, nor the names of interested companies, the government's Public Relations Office said Friday.
ZAGREB, May 31 (Hina) - The Croatian government has been informed
about a significant number of companies interested in the
privatisation of the country's oil company INA. Since this is the
first phase of the process, the exact number will not be made public
yet, nor the names of interested companies, the government's Public
Relations Office said Friday. #L#
Unofficial sources have reported that some 20 foreign companies
have expressed interest in purchasing INA's 25 percent plus one
stock so far. The deadline expires at 5pm Greenwich time.
Detailed offers will be submitted to governmental advisors for the
privatisation of INA by June 14, after which the government will
officially inform the public about the submitted offers, the Office
said in a statement.
The statement cites basic information about INA, and states that,
according to the draft audited financial reports for last year, the
company's consolidated profit from sales amounted to 16.12 billion
kuna (US$1.92 billion), and the overall assets 14.87 billion kuna
(US$1.78 billion).
The government is expected to make a decision on a strategic partner
by the end of this or the start of next year.
Besides selling 25 percent plus one share to a strategic partner,
the Law on INA envisages seven percent of shares being transferred
without compensation to Croatian Homeland War veterans, the
company's current and former employees would be able to purchase
seven percent of shares under favourable conditions, and at least
15 percent of shares would be sold by public tender.
(hina) lml sb