The odds are slim for the coveted assets of the Croatian agricultural firms, which manage substantial state land assets, to fall into Hungarian hands.

The Croatian press had previously highlighted the interest of three Hungarian billionaires, Sándor Csányi, Dániel Jellinek, and Lőrinc Mészáros, in the agricultural division of Croatia's premier enterprise. However, our source familiar with Fortenova affairs suggests that Podravka, the only Croatian contender, stands the best chance of acquisition, not the Hungarian trio. It's particularly noted that Sándor Csányi, the head of OTP Bank and owner of Bonafarm, a major Hungarian food industry group, has explicitly indicated through his press department that "neither Bonafarm nor any of Sándor Csányi’s other companies have expressed interest in purchasing the Croatian company."

Efforts to contact Lőrinc Mészáros's Talentis Agro Zrt., which holds a significant agricultural portfolio, remained unanswered concerning their interest in the Croatian agricultural companies.

There were previous attempts by Dániel Jellinek to purchase the business segment when it was being detached from Fortenova Group, the largest food production, processing, and trading conglomerate. His ambitions were thwarted unexpectedly by an Arab sheik, Saif Alketbi from the United Arab Emirates, even after being considered a done deal.

The Croatian prime minister, Andrej Plenkovic, was cited in reports hinting at a government veto against the deal, mentioning concerns over "opaque Hungarian capital" associated with Viktor Orbán. This effectively derailed the transaction.

The case involving the Arab sheik, who is suspected of fronting for Russians, is still tangled in a web of lawsuits concerning the Fortenova case.

This competitive bid, focused on a sizable agricultural division that includes significant land areas representing 1/40th of Croatia's arable land primarily leased from the state underlines the strategic importance of these assets for both feedstock and livestock production critical to the affiliated food processing industry.

When questioned about his hopes for the bid, given the unfriendly previous reception in Croatia, Dániel Jellinek, citing a confidentiality agreement, declined to comment. He has previously stated an ongoing interest in Fortenova despite earlier setbacks, emphasizing a preference to invest in welcoming environments.

While Croatian sources suggested that the bidding process, emphasizing fair purchase prices and employment, was extensively open with numerous potential investors, our source doubts a Hungarian acquisition, especially concerning the packages that include Croatian land assets. Some investors had considered joint ventures with Croatian partners to navigate this challenge: the Croat consortium would handle land management, while the Hungarian side would focus on livestock and food processing.

Podravka, presenting the sole Croatian bid in collaboration with Croatian pension funds, is reportedly the frontrunner. This reflects a precedent where Croatian politics preferred local pension funds as buyers in a bid for the entirety of Fortenova.

Observers view the sale of the Belje, Vupik, and Vuk agribusiness giants, significant for their extensive state land holdings in Slavonia and Baranya, as primarily a political decision. Prime Minister Andrej Plenkovic may have a considerable say in the matter, given the strategic importance of these companies. Unofficial estimates value Fortenova's agricultural division at about 400 million euros, with the three companies employing roughly 2,300 staff, generating around 340 million euros in revenue two years ago, and a net profit of 20 million euros.