Ljubljana, 11 March (STA) - The owners of a combined 50.51% stake in bread and pasta maker Zito, including the state-run KAD and SOD funds, published a call for non-binding bids for their stakes on Friday. The bidding is open until 15 April.
KAD and SOD are selling a combined 27% stake while other sellers - financial firm KD Kapital and investment funds KD ID, KD Galileo and KD Rastko - are selling a combined 23.5%, follows from the call, published in daily Delo.
Zito is the parent company of the international Zito Group and is the largest producer of bakery products, flour, pasta, frozen food, rice, tea, spices and confectionery in Slovenia.
Non-biding bids need to be valid until at least 1 August, and need to include the price the buyer is offering per share, payment deadlines and potential collateral for payment.
Non-financial bidders need to have the equity capital of at least EUR 50m, while financial bidders need to have at least EUR 150m in total net assets.
The sellers are not obliged to accept any of the potential bids.