NEWS: UK firms fight for pharmaceutical sell-off in Croatia

UK financial agencies are battling it out this month for a public relations account from Croatia’s leading pharmaceutical company Pliva.

UK financial agencies are battling it out this month for a public

relations account from Croatia’s leading pharmaceutical company Pliva.



The firm, which is 83 per cent owned by Croatia’s state privatisation

agency and two government-controlled pension funds, is hoping to

increase private ownership to around 53 per cent via an international

share offering next spring.



Led by UBS and Croatia’s Zagrebacka Banka with support from the European

Bank for Reconstruction and Development, the sell-off will be aimed at

foreign investors and the domestic market.



Dewe Rogerson and Gavin Anderson are believed to be pitching for the

estimated six- figure PR account. It will involve international media

relations and investor relations support as well as design work and some

advertising.



The agency will have to educate investors about the opportunities in

Croatia following the signing of the Bosnian peace accord at the end of

last month. In May, a similar offering by the state privatisation agency

of 25 per cent of Pliva’s shares fell through after it failed to attract

any buyers.



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