Croatia sets asking price for Hoteli Maestral stake

In October, Croatia's state-run enterprise restructuring and sale center, CERP, launched another procedure to sell the majority stake in the hotel operator after an earlier attempt failed to attract investors interest.

In the initial round, CERP received seven non-binding letters of intent (LoI) for the purchase of the 352,022 Hoteli Maestral shares on offer, data published on DUUDI's website on Wednesday showed.

Along with fixing an asking price, CERP has also taken a decision to start collecting binding bids for the Hoteli Maestral stake, DUUDI said.

Only candidates that have filed LoIs are eligible to take part in the next phase of the sell-off process. They will have 45 days to submit binding bids after being formally invited to do so.

Hoteli Maestral owns five hotels in the Dubrovnik coastal area.

(1 euro=7.6641 Croatian kuna)