April 12 (SeeNews) - Croatia's state-run Centre for Enterprise Restructuring and Privatisation, CERP, said on Thursday it has invited expressions of interest and binding bids for the purchase of a 23.25% stake in hotel operator HTP Orebic.
CERP is planning to sell a total of 110,609 government-owned shares of HTP Orebic, worth a nominal 11.061 million kuna ($1.8 million/1.5 million euro) in total, it said in a filing with the Zagreb Stock Exchange.
You can subscribe to our M&A newsletter here
The privatisation agency plans to sell at least 27,650 shares representing 5.81% of the share capital of HTP Orebic, while the minimum offered price should stand at 76 kuna per share, CERP said.
The deadline for placing the bids is May 3.
HTP Orebic operates three four-star and one three-star hotel on Croatia's Adriatic coast.
(1 euro = 7.42718 kuna)