CROATIA: Brazilian company bids for PPK Kutjevo
The Croatian Privatisation Fund (HFP) has said Constructora Atlante has offered €7.5m (US$8.6m) for a 76.02% stake in PPK Kutjevo. The company has also pledged a further investment of €20m (US$23m) for modernisation.
Among PPK Kutjevo's operations is one of Croatia's largest and most established wine producers. It produced some 34,188 hectolitres of wine in 2002, around a third of which was exported. HFP is expected to announce its decision about the bid in early-October.
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