HIGHEST CIRCULATION CROATIAN DAILY GETS NEW OWNER

( Editorial: --> 3384 ) ZAGREB, Jan 9 (Hina) - The Croatian Pension Fund sold its 53.61 per cent stake in "Vecernji List", Croatia's highest circulation daily newspaper, to the European Development Trust d.o.o. from Zagreb. The company offered DM 19,514,000, which is 30 per cent over the nominal amount, and will pay the whole amount within 15 days. The European Development Trust also offered DM 20 million for recapitalisation, which will be decided at an assembly of the Vecernji List joint stock company. The European Development Trust d.o.o. is a Croatian-registered company which works on behalf and for the account of the Caritas Fund which is owned by the Hermitage Trustees Ltd. Further details about the new owner were not disclosed. There were eight offers to buy the majority share holding, and according to the Croatian Pension Fund's Auditing Committee president Damir Zoric, all of them had offered prices above the nominal value of DM 15 million and to pay within a short period of time. The Croatian Pension Fund, however, had found the amount of the offered price vital, concerning the fact that the Fund needed DM 400 million each month, Zoric said. The 'highest price' criterion was supported by all members of the Auditing Committee. (hina) lm jn 091909 MET jan 98