Croatia has privatised its largest shipyard

Croatia's largest shipyard, Brodosplit, was privatised this week.

The government signed the contract with Croatian company DIV which took over the shipyard for only 1 Croatian kuna, but accepted its debts and obligations.

Privatising the shipyard in the Adriatic port of Split was one of the conditions for Croatia joining the European Union.

"The restructuring of the shipbuilding industry comes to an end with the signing of this agreement," Croatian Economy Minister Ivan Vrdoljak said.

Source: croatiantimes.com