July 3 (SeeNews) - Croatian state-owned fertilizer maker Petrokemija said on Monday it has received letters of intent from interested investors under its call for recapitalisation.
The offers will be presented to the company's supervisory board, the ministry of state property and the state-run centre for enterprise restructuring and privatisation, CERP, Petrokemija said in a Zagreb bourse filing.
No other details were provided.
The recapitalisation of the company was agreed with the Croatian government in April when it issued guarantees for two long-term loan deals signed with the state-owned development bank HBOR and Hrvatska Postanska Banka, as well as a short-term financing deal with Erste&Steiermarkische Bank.
The aim of the recapitalisation is to modernise the manufacturing facilities, provide sources of financing, to improve the company's position on Croatian and regional markets, and to raise the level of efficiency of maintenance, logistic and other service processes.
The government controls some 80% of Petrokemija.