Croatia Airlines selects privatisation advisor

NEWS FLASH

Croatia Airlines has selected a financial advisor for its upcoming privatisation process. A consortium made of of the Privredna banka Zagreb and DVB Bank will offer their services to the carrier in order to seek out potential privatisation models and possible partners. During the first phase of their work, the advisors will analyse Croatia Airlines' business and results. The second phase will involve identifying the best privatisation model, while the third will include the transaction itself. The consortium will be paid up to half a million euros for their services and will receive a bonus if Croatia Airlines is successfully privatised. The Croatian government recently said it hopes to finalise the carrier's privatisation process by the end of the year.