Croatia: Privatization of HPB Fails

Businessn.a. ♦ Published: December 13, 2013; 21:34 ♦ (Vindobona)

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: ©

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…