The government will make a decision on further proceedings for the sale of its shares and injection of fresh capital into CO and HPB after which the short-listed companies will be able to conduct a due dilligence review of the companies and then lodge binding bids.
The government has offered the sale of its 80.2% shares in CO but wishes to retain at least 25% + 1 share in the company or at most 30%.
Information concerning Thursday's cabinet session indicates that the Rovinj-based Adris Group has made a bid for 132,267 regular shares in CO at a price of EUR 790.27 per share or a total of EUR 104.5 million and to inject EUR 130 million of fresh capital.
Its competitor, the Polish PZU insurance giant, has offered a bid for 158,174 shares at a price of EUR 900.90 per share or a total of EUR 142.5 million and to inject EUR 50 million of fresh capital.
As far as HPB is concerned, the government intends to sell all of its 99.13% ownership share in that bank to one of the final two bidders.
The Austrian Erste Bank has offered EUR 130.2 million for the purchase (EUR 149.51 per share), while the Hungarian OTP Bank has offered EUR 92.2-118 million at prices ranging from EUR 105.84 to 135.46 per share.