The Croatian Centre for Restructuring and Sales (CERP) has opened the bidding for a 49% stake in Croatia Airlines. Investors have until November 27 to express their interest. A second tender will follow to submit concrete takeover offers. The Croatian government plans to retain its 46.76% share in the airline, which coupled with shares owned by Zagreb Airport and the State Agency for Deposit Insurance and Bank Rehabilitation amounts to 50.25%.
The privatisation process is expected to take between eight and ten months.
Although the exact value of the company is still to be determined after the second tender, the government has estimated it to be worth €45.9 million.
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