International tender for public procurement of advisory services in privatization of Croatian Postal Bank

Government plan on privatization of Croatian Postal Bank (HPB) has moved forward by opening an international tender to find an advisor to help it sell up to 51.46% of HPB.

Government has published a 45 page detailed overview document which encompasses the details required for interested parties to submit their bids for financial/privatization consultant of the HPB. Offers should be submitted to the finance ministry by August 21, a tender notice posted on the website of the ministry last week indicated.

The state-owned equity is planned to be divested through public offering or private placement.The Croatian government owns 51.46% of HPB through the Agency for State Property Management.

According to the tender information memorandum, HPB is the seventh largest among Croatia’s 32 banks in terms of assets.

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