Croatian govt oks sale of wine maker Dalmacijavino to US Traubi International.

By bne IntelliNews December 2, 2011
The Croatian government has approved US firm Traubi International's bid to buy a 79.82% stake in local wine producer Dalmacijavino, news agency HINA reported. Traubi International will buy the stake for a token price of HRK 1 and will receive a 99.99% discount to settle Dalmacijavino's financial obligations towards the state. Traubi has agreed to pay Dalmacijavino's debt to the state property management agency within two years. The government launched the sale of the wine producer on October 6. It received two bids - from Traubi International and from Dalmacijavino ESOP. The state property management agency said on November 23 it had approved the offer of Traubi International and had proposed the government to accept it. In mid-November, Traubi International's owner Salamon Berkowitz said he had reached an agreement with the Croatian government on the purchase. Berkowitz said back then he plans to invest EUR 10mn in Dalmacijavino and keep the company's 500 employees during the first year after the sale. Traubi International is the producer of soft drink Traubisoda.

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