Croatian yard privatization update

A Serbian businessman, Philip Zepter, said to be one of Europe’s richest men, has reportedly bought tender documents for Brodotrogir, Kraljevica and Split, three of the five Croatian shipyards being privatized by the government.

This has raised speculation that Zepter, born Milan Jankovic, aims to buy these yards since he is not interested in the only profit-making shipyard up for grabs, Uljanik, or 3 Maj. The 58-year-old Zepter has a net worth of $5bn and founded Zepter International, which focuses on the production and sale of high-end consumer products. He is also the major shareholder in the car producer, Bentley.

Also in the frame for all five shipyards is Croatian mining tycoon Danko Koncar.

Under a deal with the EU, Croatia has agreed to sell off the yards starting with the privatization of Uljanik of which a 50.1% chunk will be sold off later this year. The other four yards are rumoured to be up for sale for HRK 1 ($0.19) each, plus debts.