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Croatia sets minimum sale price of majority stake in Hoteli Maestral

Croatia sets minimum sale price of majority stake in Hoteli Maestral Author: Hoteli Maestral Rights: All Rights Reserved

ZAGREB (Croatia), August 1 (SeeNews) - Croatia's center for enterprise restructuring and privatisation, CERP, has set the minimum price for the sale of a 68.94% stake in hotel operator Hoteli Maestral at 126.8 million kuna ($20 million/17.1 million euro), the company said on Wednesday.

The state-run CERP will soon invite binding bids for the purchase of 355,520 shares in the hotel company, Maestral said in a filing to the Zagreb Stock Exchange.

The deadline for the submission of binding bids will be 45 days from the date the tender is published.

The state's stake in Maestral is worth a nominal 71.1 million kuna.

In March, CERP launched a tender for the sale of the 68.94% stake in Hoteli Maestral.

CERP's previous attempt to sell Maestral failed in February, after it rejected the bid lodged by Czech company J&T IB Capital Market. At the time the minimum price was set at 114.3 million kuna.

Another call finished unsuccessfully in September 2016, as no bids were submitted.

(1 euro=7.40470 kuna)

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