Croatia's agency which manages state-owned property CERP on Monday invited binding offers for the purchase of an interest of close to 90 percent in the Agroduhan tobacco company from Slatina, majority-owned by the government and the state pension fund, with the starting price set at 20 million kuna (€2.66 million).

The total nominal value of five stakes offered for sale is 19.7 million kuna, which is 89.8 percent of the company’s equity, and the starting price is 20.04 million kuna, CERP said on their web site. The deadline for the submission of bids is 21 October.

Agroduhan accounts for around 30 percent of Croatia’s entire tobacco production.

(€1 = 7.51 kuna)