Restructuring and Sale Centre decides to sell state's share in Koncar, Suncani Hvar and Eutelsat

The Governing Council of the Restructuring and Sale Centre (CERP) on Thursday decided to sell the state-owned shares in Koncar Electrical Industries, the Suncani Hvar hotel company and Eutelsat Communications, via the Zagreb Stock Exchange (ZSE).

The CERP Governing Council on Thursday resumed its first session which started on May 2. After the session, the head of the  State Property Management Administration (DUUDI), Tomislav Boban, told reporters that all of the items discussed at the session were in accordance with the announcements made by Prime Minister Tihomir Oreskovic at a news conference earlier today.

Speaking about the sale of stocks in the three companies, Boban said that all three companies were listed at the ZSE and that the price of their shares would depend on exchange market movements.

Boban said the state would sell its 20.4% share in Koncar Electrical Industries, a 29% share in Suncani Hvar and a 0.45% share in Eutelsat. Eutelsat stocks are also listed at the stock exchange in Paris and although the state's share is small, the price of Eutelsat stocks is high and they are worth approximately 30 million euros.

Boban did not say when the stock would be listed on the ZSE.

Asked why ACI (marinas) and Podravka food company had been removed from the list of strategically important companies, Boban explained that they were never strategic companies but companies of a special state interest, as are the other six companies that were taken off the list.

The Croatian government has decided to remove eight companies from the list of enterprises regarded to be of strategic and special interest for the country and those are: Podravka, ACI, Koncar-Elektroindustrija, Petrokemija, Croatia Airlines, Luka Rijeka (Port of Rijeka), the Croatia bank and the Croatia Osiguranje insurer.

The decision on taking those enterprises off the said list and preparing them for possible privatisation was made at the government's conference call on Wednesday.

Last update: Thu, 12/05/2016 - 19:24

More from Croatia

Plenkovic: It's time to deal with the past

Prime Minister Andrej Plenkovic said on Thursday that, by attending in Slovenia earlier today the burial of victims...

Croatian PM going to Bosnia with messages of support

Croatian Prime Minister Andrej Plenkovic said on Thursday he would give two key messages during his visit to Bosnia...

FinMin says tax reform effect in 1st year up to HRK 2b

The effect of the draft tax reform in the first year will range from HRK 1.9 billion to 2 billion but the lower...

PM sees tax reform as one of most important in this gov't term

Prime Minister Andrej Plenkovic said at the government session on Thursday that tax reform was of the the most...

PM: Coming to terms with past important for democratisation

Croatia's Prime Minister Andrej Plenkovic has said that his cabinet deems that coming to terms with the legacy of...