CORRECTED - Croatia to invite all bidders eyeing Badel 1862 stake to place binding offers

A corrected version of the story follows:

The Croatian government said on Thursday that all 11 bidders that placed offers in the first phase of the sale procedure for a state-owned stake in local producer of wine and spirits Badel 1862 [ZSE:BD62-R-A] will be invited to file binding bids.

The starting price for the 65.84% stake is 106.6 million kuna ($18.3 million/14.1 million euro) or 51.58 kuna per share, the government said on its website.

The 2,065,828 Badel shares that are up for sale have a nominal value of 206.6 million kuna.

The binding bids should be submitted within 90 days of the date on which the relevant notification was sent out.

Badel 1862 closed up 4.63% at 59.26 kuna on the Zagreb bourse on Thursday.

(1 euro=7.5396 Croatian kuna)