ZAGREB, Nov 14 (Hina) - The Croatian government on Thursday adopted an analysis of the course of privatisation to date, and will soon consider and define a management strategy for about 200 companies in which the state is the majority
owner and which are under the government's direct jurisdiction.
ZAGREB, Nov 14 (Hina) - The Croatian government on Thursday adopted
an analysis of the course of privatisation to date, and will soon
consider and define a management strategy for about 200 companies
in which the state is the majority owner and which are under the
government's direct jurisdiction. #L#
Of a total of 1,067 companies registered in the Croatian
Privatisation Fund (HFP) portfolio on Oct. 15, 748 were available
for privatisation.
The operational plan envisages that companies in which the state
holds less than 50 percent of shares are to be privatised through a
public auction at the Zagreb or Varazdin Stock Exchanges.
Ninety-one companies in which the government share exceeds 50
percent and 14 in which that share is smaller but in which investors
are very interested would be privatised via a public tender.
The government today adopted special privatisation models for nine
consolidated agribusinesses. Plans include privatising the
state's entire share in Djakovstina, Kutjevo, VUPIK, and PIK
Vrbovec at discount prices. Orahovica would be sold as a whole or in
parts.
The Slavonski Brod-based Jasinje is already being sold in parts. As
for IPK Osijek, after the completion of its division into daughter
companies, the HFP will first acquire shares and then privatise
them.
Due to their specific situation, the privatisation of Belje and the
Zupanja Sugar Refinery would be postponed.
Next year's privatisation of state-owned companies includes 25
percent of the oil industry INA, up to 30 percent of the Croatia
Osiguranje insurance company on the domestic capital market, and a
merger of the Croatian Postal Bank and Croatia Bank, announced
Deputy Prime Minister Slavko Linic.
As for Croatian Telecom, a seven-percent share will be offered to
employees and seven percent to war veterans.
Linic said that shipyards would be privatised through an employee
stock ownership plan if they were consolidated.
The situation in the management and control of companies in the HFP
portfolio has been improved, but mistakes are still made as there
are no sanctions against those who devastate a company, said Linic.
The incumbent government has to build a system of liability for
company management and control, he added.
PM Ivica Racan said that in two weeks' time the government would
consider and define a management strategy for about 200 companies -
178 in which the state is the majority owner and 23 under direct
government jurisdiction. This will provide an opportunity to
consider possible management strategies for those companies, he
added.
(hina) ha sb