10 June 2008 – The Croatian Privatization Fund has issued a public invitation to tender for a 99.97% stake in dairy company Zdenka Mlijecni Proizvodi at a starting price of 67.366 million kuna ($14.4 million).
The company is involved in milk processing and cheese production and employs 235.
The successful bidder will commit to keeping employees of the company for two years from the date of the sale. They will also pledge to continue with the “Zdenka” brand and with all core operations of the company, namely collection, processing, distribution and sale of milk and dairy products.
Other mandatory terms include providing an investment program and a five-year business plan for Zdenka.
The deadline for submission of bids is set for 24 June 2008 at 2pm.