The state-run restructuring fund CERP, which holds government's stakes in a number of companies, published a tender on Monday calling for bids to sell their 17.9 percent stake in the state-owned fertilizer company Petrokemija, at a starting price of 31 kuna per share, totalling 305.4 million kuna (€40.5 million).

CERP is the second largest shareholder of the fertilizer maker Petrokemija, behind Terra Mineralna Goriva with 54.5 percent – a company co-owned by the state-owned INA oil and gas group and the Prvo  Plinarsko Drustvo (PPD), a privately owned company for trade and supply of natural gas, based in Vukovar. INA itself is co-owned by the Croatian government and Hungary’s oil company MOL.

The remaining shareholders are the state-owned Fund for Financing the Decommissioning of the Krsko Nuclear Power Plant, with 12.7 percent, the state-owned Janaf oil pipeline operator, with 9 percent, and others.

Petrokemija’s shares have been de-listed from the Zagreb Stock Exchange (ZSE) since late February. For some  time now there have been speculations about possible ownership changes in Petrokemija. In mid-2021, Petrokemija reported on the ZSE that it had approved a due diligence of its financial, legal and technical situation “in order to find a strategic partner and potential investor in the Terra Mineralna Gnojiva company.”

“There are some reports in the media that Turkish Yildirim Group is interested in taking over the company,” state agency Hina said.

Hina did not report about the company’s revenues and profits.

(€1 = 7.53 kuna)