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Bids received for Croatia's state owned KIM dairy

16 March 2007

CROATIA's privatisation fund said on March 9 that it had received three bids in a tender for a state-owned stake of 66.96 per cent in the KIM dairy in Karlovac.

The stake is worth HRK15.8 million (USD2.82 million). The three bidders are local companies Ranc and Chemoderm, and Danube Foods Group of the Netherlands, according to SeeNews.

In December last, the privatisation fund called a new tender for KIM, reducing the starting price to 75 per cent of the par value of KIM's shares, following the failure of the previous tender, in which shares were offered at their par value.

The Croatian state owns a total stake in KIM of 81.77 per cent, with the Diona retailer owning a 15.18 per cent stake.

KIM employs 219 people, with the successful bidder for the 66.96 per cent stake being required to maintain all these jobs for at least two years after buying the company.

TheCattleSite News Desk



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