October 17 (SeeNews) - Croatia's state-run center for enterprise restructuring and privatisation, CERP, said on Monday it will hold a public auction for the sale of a 1.91% government stake in hotel group Suncani Hvar [ZSE:SUNH-R-A] at a starting price of 8.9 million kuna ($1.3 million/1.2 million euro).
The auction of a total of 370,213 company shares, available for purchase in three packages on an all-or-nothing basis, will be held on the Zagreb Stock Exchange on October 24, CERP said in a filing with the bourse.
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CERP has offered two sets of 0.62% in the first two packages for a starting price of 2.9 million kuna, each. The third package is for 0.67% in Suncani Hvar for 3.1 million kuna.
The combined face value of the three packages is 7.4 million kuna, CERP noted.
In July, CERP sold a 29.94% state-owned stake in Suncani Hvar for 141.1 million kuna to Cyprus-registered PTR Prime Tourist Resorts.
Prior to the purchase, PRT, acting on behalf of its parent CPI Property Group, already owned a 61.95% stake in Suncani Hvar.
PRT has earlier said it hopes to gain full ownership of the Croatian hotel group.
Suncani Hvar operates eight hotels on Hvar island.
(1 euro=7.51437 Croatian kuna)