FIVE TENDERS GIVEN FOR PURCHASE OF "EXCELSIOR" HOTEL IN DUBROVNIK

ZAGREB, Dec 19 (Hina) - Five tenders have to date been forwarded to the Croatian Privatisation Fund (HFP) for the purchase of the "Excelsior" hotel in the southern coastal resort of Dubrovnik. Of them, three meet the required conditions. On Monday, the tenders were open in the HFP for the purchase of 407,095 shares (value of which is 100 kuna or approximately 25 German marks), which make up the 86.07 of the capital base of the hotel. They were offered on the sale at the five percent of the nominal price (2,364,735 kuna). The first tender has been forwarded by "International Hotel Investments" from Malta, and fulfils conditions. The second offer has been made by Mr. Goran Strok, who has also provided the commission in charge of this job with the adequate documentation. The offer of the "Hospitality-Investment Partners" has not been satisfactory. "Bavaria Hotel Holding International" GMBH has forwarded documentation which meets the invitation's conditions. The fifth offer made by Dubrovnik-based "Sloris Investicija" has not included adequate tenders documentation. The invitation for tenders was published in the 17 November issues of the newspapers 'Jutarnji List' and 'The Financial Times'. After the HFP bodies are notified of the offers, they will forward them to relevant factors to make a decision on the sale of this hotel. (hina) ms