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Croatian Yards Sale Continues |
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 Bids received earlier this year for the struggling, subsidised shipbuilders remain in place, according to the country’s government, although it is unclear how many yards have attracted offers to date.
Djuro Popijac, Croatia’s economy minister, said it remains on track to complete the sale of the loss-making shipyards, a report from Reuters reads.
“We’re on the right track to complete the privatisation of the docks and thus meet one of the key criteria for EU accession related to the competition policy,” the news wire reported Popijac as telling a cabinet session.
“The restructuring plans for the docks, submitted by the bidders, must now also be reviewed and approved by the European Commission,” Popijac continued.
In May Croatia received four bids for three of the six shipyards it had put up for sale. The government said at the time that 3 Maj, Brodosplit and Brodotrogir had attracted offers, leaving Uljanik, Kraljevica and BDO on the shelf.
Crown Investment of Germany, a subsidiary of Austria’s A-Tec, is thought to have put in a bid for 3 Maj. Croatia’s DIV group is aiming to buy Brodosplit, and local companies More Trogir and Jadranska Ulaganja are battling for Brodotrogir.
Bankruptcy remains a real threat for Brodosplit, Brodotrogir, Kraljevica and 3 Maj if buyers are not found.
Source: TradeWinds
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