New Tender for TLM and Imota

The Croatian Privatisation Fund announced a new tender for TLM Sibenik stock (rolled and extruded aluminium plant).

The Croatian Privatization Fund announced a new invitation to bid for buying 1,475,683 or 80.20% of shares of TLM Sibenik under special conditions, which means the starting price is one kuna.

The deadline for the tenders is March 12 at 2 p.m. The bidders have to oblige to settle all debts and to carry out all obligations towards creditors.

TLM indebted for more than one billion kuna

Total TLM financial obligations towards creditors are more than a billion kuna. The bidders have to retain the basic functioning of the TLM and demonstrate a five-year business plan. They should commit to having 1,400 out of 1,593 current employees remain at their jobs at least for two years after the takeover, the HRT web-site reports.

7.18 million kuna for 98.73% Imota shares

The bid for 98.73% shares of the Imota grapes and vine producer will be the sum of 7.18 million kuna, which means 40% of the stakeholder face value. The deadline for bidding for the privatisation of Imota is February 26 at 2.00 p.m. And 89,779 shares from the HFP portfolio, the Ministry of Economy and the state agency for savings insurance and financial rehabilitation are offered for bidding.