CROATIAN PRESIDENT RECEIVES ZAGREBACKA BANKA DIRECTOR

ZAGREB, July 2 (Hina) - Croatian President Franjo Tudjman on Tuesday received Zagrebacka Banka director Franjo Lukovic after the sale of ten per cent of the bank's shares to foreign banks. Lukovic said that the Union Bank of Switzerland had bought two per cent of Zagrebacka Banka's shares while the rest had been bought by 80 international investment funds and banks. The shares were sold at DM 130 per share, which was two and a half times the price that had prevailed on the domestic market in the last year. Tudjman said he was pleased that by buying the shares of Zagrebacka Banka international foreign investors showed that they fully accepted a risk of investment in Croatia. Since foreign investors were showing interest in investing in big and medium-size companies in Croatia, particularly in the tourist industry, the talks pointed out the need for the ownership of Croatian tourist companies to be more transparent. The meeting was also attended by Presidential Chief of Staff Ivo Sanader and Adviser on Economic Affairs Darko Grguric. (hina) vm 021740 MET jul 96