Croatia to call new sell-off tender for Kraljevica shipyard.

By bne IntelliNews October 22, 2010
The Croatian privatisation agency will call a third sell-off tender for 99.54% of the Kraljevica shipyard for the token price of HRK 1, news agency HINA reported. Potential bidders will have 15 days to submit their offers, which must include also a restructuring strategy since the new owner will have to provide 40% of the restructuring costs. The second privatisation round failed after no bidders showed up, but several potential investors have been expressing permanent interest in the shipyard. According to economy minister Djuro Popijac, the country and the EU agreed that more attempts should be made for the Kraljevica privatisation either through a regular tender or through direct negotiations. Kraljevica is one of the six state-owned shipyards that the country decided to privatise. Kraljevica's loss increased by 26.2% y/y to HRK 128.1mn (EUR 17.6mn) in 2009.

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