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Slovenian investment fund SDH in talks with two bidders for Zito-Reuters

(Reuters) – Slovenian state investment fund SDH said it was in talks with two bidders for Zito , denying a newspaper report that the food producer would be sold to Croatia’s Podravka.

“The sale process has not been completed yet and shareholders … are leading negotiations with the two best bidders,” SDH told Reuters. SDH did not name the bidders.

SDH is coordinating the sale of 51.55 percent of Zito, one of Slovenia’s biggest food producers, in which state companies hold a stake of about 30 percent. Private investors own the rest.

Finance reported on Monday that Croatian food firm Podravka would pay between 60 million and 65 million euros ($65-$71 million) for Zito and that the sale would be completed in the coming weeks.

According to Finance, Podravka would pay between 168 and 185 euros for each Zito share. The shares were steady at 167 euros on Monday.
Podravka gave no immediate comment.

Zito is one of 15 companies that the Slovenian government earmarked for privatisation in 2013. Three of those firms have been sold so far.