The Croatian Centre for Restructuring and Sales (CERP) has opened the bidding for a 49% stake in Croatia Airlines. Investors have until November 27 to express their interest. A second tender will follow to submit concrete takeover offers. The Croatian government plans to retain its 46.76% share in the airline, which coupled with shares owned by Zagreb Airport and the State Agency for Deposit Insurance and Bank Rehabilitation amounts to 50.25%. The privatisation process is expected to take between eight and ten months. Although the exact value of the company is still to be determined after the second tender, the
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