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Aug 25, 2023 12:51 EEST
August 25 (SeeNews) - Croatian shipyard Uljanik Brodogradnja 1856 said that no bids were submitted in an open bidding auction for the majority stake in it called by the shareholders of bankrupt local shipbuilding company Uljanik Brodogradiliste.
The second attempt to sell the stake in an international tender also failed, Neven Radolovic, a member of the supervisory board of Uljanik Brodogradnja 1856, told state TV broadcaster HRT on Monday, adding, "We do not have a potential strategic partner now."
In April, the creditors of Uljanik Brodogradiliste put up for sale the company's entire 54.77% equity stake in Uljanik Brodogradnja 1856 in an open bidding auction at a minimum price of 20.7 million euro ($22.3 million), equal to 75% of the estimated value of the stake.
In a second tender, called earlier this summer, the price of the stake was cut to 13.8 million euro, or 50% of the estimated value of the stake.
In January, the creditors of Uljanik Brodogradiliste decided to sell the majority stake in Uljanik Brodogradnja 1856 via a public tender, rather than accept the proposal for a direct sale to a potential buyer, lodged last year by Czech investor CE Industries. The Croatian government is the largest creditor of Uljanik Brodogradiliste.
($ = 0.927 euro)
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