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Croatia: Privatization of HPB Fails
The privatization of the Croat Postal Bank (HPB) has failed for the time being. For the potential buyers, HPB is too risky.
Croatia: Privatization of HPB Fails / Picture: © Vindobona.org
The Croat government has started the preparation for the privatization of HPB already in March 2013. In total, a 99.13% stake should be sold. While Austrian Erste Group has submitted an offer to the Croat government, Hungarian OTP only made a non-binding bid.
As a result, Erste Group´s bid was the only one. The Austrian lender offered € 103m. Initially, the expected proceeds…
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