Croatian government seeks EUR 34 mln investor in Maestral Hoteli company

The Croatian government is looking for a EUR 34 mln investor in the Maestral Hoteli company, the Croatian newswire, Dalje, reported, Aug. 6.

“The Croatian government has set the asking price at HRK 168.3 mln for the state’s 68.28 percent stake in the Dubrovnik-based Maestral Hoteli company and an investment of HRK 90 mln into this state-owned hotel group in the second round of the invitation for binding offers,” the local media reported.

The Croatian Restructuring and Sale Centre (CERP) decided on the terms and conditions for collection of binding bids for Maestral Hoteli in early July, setting a HRK 478.30 price per each of the 352,002 state-owned shares in the company, with an additional HRK 90 mln injection in a form of an investment.

Additionally, according to terms and conditions introduced by CERP, the bidders are also expected to invest their funds into the facilities within three years and upgrade the hotels’ all accommodation capacities to a higher standard, up to a four-star level at least.

Currently, Maestral Hoteli has 151 employees who look after five hotels with a total capacity of 930 beds in 483 rooms.

Photo courtesy of Ex13 (Suradnik13).