Croatia to auction three hotel compaies

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Croatia is auctioning majority stakes in three hoteliers.

The Croatian Privatisation Fund HFP, the state asset-sales agency, has called a public tender for the sale of 55.19 percent of Hoteli Zivogosce with the starting price 80 percent lower than the nominal price of the shares.

Also until March the bidders will be able to place their offers for 51.17 percent of Hotel Podgora shares at 15 percent of the shares’ nominal value.

Also HFP has put out a tender for the offers for the sale of 99.43 percent of Bizovacke Toplice at the nominal price of 130.16 million Kuna.

Interested buyers are required to submit a five-year business plan and maintain the current payroll for at least one year. (Bloomberg)