HETA ASSET RESOLUTION AG, having its seat at the address Alpen-Adria-Platz 1, 9020 Klagenfurt am Wörthersee, Austria, a company owned by the Republic of Austria, and its related Croatian subsidiary, (together “HETA”) intend to sell a non performing loan portfolio (the “Portfolio”) of loans and claims to 3 Croatian companies (individually a “Borrower”, collectively the “Borrowers”) with total exposure of approximately EUR 47 million (the "Transaction").
The Portfolio consists of 3 loans and 1 claim for exercised guarantee. The main security instruments for the claims are mortgages, ranking from 1st to 4th ranking mortgage, over a real estate located on the coast in Dalmatia, in reality consisting of a hotel under construction (the “Mortgaged Real Estate”). The loans are also secured by other standard collaterals i.e. share pledges, promissory notes, bills of exchange and debentures.
The Transaction will be conducted in an open, non-discriminatory and transparent manner and is anticipated to commence during the second quarter of 2016.
HETA has appointed PricewaterhouseCoopers Savjetovanje d.o.o. (“PwC”) as an exclusive financial adviser to assist with the Transaction.
Expressions of interest to participate in the Transaction (each an “Expression of Interest”) submitted by interested parties (individual entities / persons or consortia) (each an “Interested Party”) should at least contain the following:
Name, address and short description of the Interested Party (or of each consortium member in case of a consortium), including its ultimate beneficial owner, and contact details of the person(s) who can be contacted in case of queries.
Rationale for the Transaction.
Confirmation that the Interested Party is acting as principal for its own account or, in case of agents or brokers submitting an Expression of Interest on behalf of an Interested Party, submission of written and adequate proof of the power of representation of such agent or broker.
Interested Parties are required to submit their written Expressions of Interest in English, titled “Expression of Interest for the Participation in the Transaction regarding the Non-Performing Claim – Portfolio, by 12 pm CET on 28 April 2016 electronically per e -mail to (followed by a hard copy of the Expression of Interest promptly thereafter):
PricewaterhouseCoopers Savjetovanje d.o.o.
Ulica kneza Ljudevita Posavskog 31
10 000 Zagreb, Croatia
Tel: +385 (01) 6328 888
Email: darija.hikec@hr.pwc.com, igor.arbutina@hr.pwc.com
After receipt and evaluation of the Expressions of Interest, Interested Parties may be invited to take part in the further sales process and receive further information regarding the Portfolio and the Transaction, subject to the execution of a non-disclosure agreement provided by HETA.
HETA reserves the right to extend the above stated deadline for the submission of Expressions of Interest, amend the time limits or other terms of the Transaction, discontinue or amend the Transaction as a whole or in part, or modify the Transaction structure or change, reduce or add receivables to the Portfolio at any time, provided that HETA will at all times act in a way consistent with the principles of an open, transparent and non-discriminatory bidding process.
For further clarification or enquiries, Interested Parties may contact the contact persons at PwC stated above.
Legal Notices: Neither this notice nor the release of any confidential information to an Interested Party constitutes, or may be used for, any offer to sell or a solicitation of an offer to subscribe for or purchase any securities by any person in any jurisdiction or under any circumstance where it is unlawful to make such an offer or solicitation. The distribution of this invitation in certain jurisdictions may be restricted by law, and recipients should inform themselves about, and observe any applicable legal or regulatory requirements in relation to, the distribution or possession of this invitation. Neither HETA, PwC nor any of their respective affiliates, directors, officers, employees, advisers or agents (“Related Parties”) accept any liability to any person in relation to the distribution or possession of this invitation in any jurisdiction. By submitting an Expression of Interest an Interested Party confirms that it is a person able to receive the information provided to it (or which may be provided to it in any subsequent phase) without contravention of any unfulfilled registration requirements or other applicable legal or regulatory restrictions in the jurisdictions in which it resides or conducts business.
PwC is acting exclusively for HETA and no one else in connection with the Transaction and PwC will not be responsible to anyone other than HETA for providing the protections afforded to its clients for providing advice in relation to the Transaction or in relation to the contents of this invitation.
HETA and PwC, and their respective Related Parties expressly state that no representation or warranty is made by this invitation and expressly disclaim any and all liability for representations, warranties deemed to be made or statements contained in this invitation to any prospective purchaser.
