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Croatia to sell stake in electrical firm to raise funds for state-backed fertilizer maker

9:49 AM MDT | July 18, 2014 | Francinia Protti-Alvarez

The Croatian government is selling its 22.82% stake in electrical and transport firm Koncar Elektroindustrija (Zagreb) to help raise funds to recapitalize the country's fertilizer company, Petrokemija (Kutina, Croatia), according to Croatian press reports. The public tender is for 586,926 shares valued at about 678 kuna/share ($120/share), valuing the stake at about 380 million kuna ($67 million), the reports add.   The government has not specify a timeline for the transaction. The funds from the Koncar sale are expected to be used for investment in a...

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