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Croatia Sets Starting Price in Badel Tender at 51 Kuna per Share

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Nov. 8 (Bloomberg) -- The Croatian government set the minimal price for the sale of 66 percent of Badel 1862, the country’s largest wine and spirits maker, at 51.58 kuna ($8.72) per share.

All 11 bidders who sent their offers in the first round will be invited to proceed to the second round of the international tender, Economy Minister Radimir Cacic told the Cabinet today in Zagreb.

Badel’s stock was trading at 58 kuna per share at 11:33 a.m. on the Zagreb Stock Exchange.

To contact the reporter on this story: Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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