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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.

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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