11 July 2008 – Local media report that the Croatian Privatization Fund has approved a $15.3 million offer for a 99.97% stake in dairy company Zdenka by Croatian financial firm Cautio Nasice and Zagreb-based agribusiness Granolio.
Starting price for the company had been set at $14.4 million, as reported by FLEXNEWS.
Under the agreement, Cautio and Granolio have pledged to keep Zdenka’s 235 employees for two years and create 50 jobs within five years. They have also agreed to continue with the dairy company’s core business of collection, processing, distribution and sale of milk and dairy products and invest $30.6 million in Zdenka in the next five years.