HETA BETEILIGUNGEN GMBH (“HBEG”) holds 100% of shares in Piper d.o.o., a limited liability company established under the laws of Croatia (“PIPER"). HBEG is a subsidiary of HETA ASSET RESOLUTION AG (“HETA”), an Austrian company fully owned by the Republic of Austria (HETA and HBEG collectively referred to herein as the "SELLERS" and each of them a "SELLER").
PIPER owns a land plot (the “LAND”) on the island Pag, in Šimuni (within the administrative area of the city of Pag), at the location called Selac, consisting of six cadastral land plots no. 3863, 3864, 3865, 3867, 3868 and 3874/1, cadastral municipality of Kolan, registered in the land registry kept by the Municipal Court of Zadar - Permanent Office Pag, with a total surface of ca. 143 hectares. The LAND is an undeveloped densely forested area with a rocky and steep coastline with no infrastructure except for forest roads.
The LAND is subject to a legal dispute which is currently pending before the Municipal Court in Zadar - Permanent Office Pag (the “Dispute”). The Republic of Croatia claims to hold ownership title to the LAND. Nevertheless, the SELLERS and PIPER believe that the Dispute can be resolved in favor of PIPER.
For further information regarding HETA, please refer to HETA’s website at www.heta-asset-resolution.com.
The SELLERS intend to
(i) divest all of their shares in PIPER and
(ii) transfer their respective loan receivables under certain loans granted to PIPER (collectively, the "Transaction") via a share deal in an open, transparent and non-discriminatory sales process regarding the Transaction (the “Sales Process”).
CBRE d.o.o. (“CBRE”) is acting as the SELLER’s exclusive financial advisor in this Sales Process. Any party interested in participating in the Sales Process (each an "Interested Party") is asked to submit an EOI to CBRE. Contact with CBRE shall be made exclusively through e-mail (followed by a hard copy) to the address stated below and by 30 September 2018, 12:00 noon (CET) at the latest.
EOI´s should be submitted in English and must include the names and addresses of the Interested Party/ies (or of all members of a group of interested parties), the names of the contact persons available for further questions as well as the names of any mandated advisors. EOI´s shall further be signed by or on behalf of the Interested Party/-ies.
Furthermore, each EOI should contain sufficiently precise information on the Interested Party, including (without limitation) demonstration that the Interested Party/-ies has/have the financial resources, expertise and incentive necessary to acquire PIPER as well as a statement that the EOI is submitted in the Interested Party's/-ies' own name and own account. Disclosed direct representation is permissible if an original written power of representation is attached to the EOI.
Upon contacting CBRE, any Interested Party will receive a Non-Disclosure Agreement to be signed by the respective Interested Party.
Once the Non-Disclosure Agreement has been signed by the Interested Party, any Interested Party who is admitted to the Sales Process will receive further documents regarding the Sales Process.
Any costs (legal, tax, real estate advisory fees, environmental, technical, etc.) associated with the due diligence conducted by potential Interested Party are to be borne by such party and will in no case be indemnified by the SELLERS.
The SELLERS reserve the right (at their sole discretion) to terminate, modify or suspend the Sales Process in whole or in part at any time and without being obliged to state the reasons therefore. While the SELLERS will at all times comply with the principles of an open, transparent and non-discriminatory Sales Process, no Interested Party will have any claim for any damages or compensation for loss, costs and other expenditure incurred by it in connection with the Sales Process for any reasons and under any circumstances whatsoever, even if the Sales Process is terminated, modified or suspended by the SELLERS. This is neither a commitment nor an obligation to consider or conclude any transaction with any Interested Party and each of the SELLERS, PIPER and CBRE, and each of their related parties (affiliates, directors, officers, employees, advisers or agents), expressly state that no representation or warranty with respect to the information provided and information being provided is made by this invitation and expressly disclaim any and all liability for representations and warranties deemed to be made or statements contained in this invitation to any prospective purchaser.
Hard copies have to be sent to: