January 26 (SeeNews) - Croatian manufacturer of wood and paper products Spacva [ZSE:SPVA] said on Tuesday that unnamed interested investors have started a due diligence process at the company.
Spacva disclosed no details about the potential buyers of shares in the company in a filing with the Zagreb Stock Exchange (ZSE).
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Spacva's shares closed 23% higher at 41.8 kuna ($6.71/5.53 euro) on the ZSE on Monday.
In October, the company said it has been informed by Quaestus Private Equity Kapital II that the venture capital fund plans to sell its 75.81% stake in Spacva before its expected closure.
Quaestus Private Equity Kapital II is managed by Croatian alternative asset management company Quaestus. The investors in Quaestus' funds are banks, insurance companies, pension funds, Croatian companies and the Croatian government, according to information published on the company's website.
Other Spacva shareholders include Croatian state-controlled lender Hrvatska Postanska Banka (HPB) [ZSE:HPB] with a 18.95% stake, the local unit of Austria's Addiko Bank AG with a 3.92% stake and other minority investors, ZSE data showed.
(1 euro = 7.5622 kuna)