September 30 (SeeNews) - Croatian hotel owner and operator Jadran [ZSE:JDRN] said on Friday it signed a deal to sell its fully owned subsidiary, hotel company Club Adriatic, to local holding company Adria Grupa Basko Polje.
It did not disclose the price of the deal in a bourse filing.
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Club Adriatic runs the four-star Noemia hotel, two-star hotel Alem and a three-star campsite Basko Polje in Baska Voda in central Dalmatia.
Jadran also entered on September 30 into a share purchase agreement for the acquisition of a 100% share in Adria Coast Turizam, it said without elaborating.
Jadran's shareholders gave on August 31 their initial consent for the acquisition of 100% of local accommodation and tourism company Adria Coast Turizam for up to 47.1 million euro ($47.2 million).
According to local media reports, Adria Coast Turizam owns the newly-opened four star hotel View on the island of Brac.
Jadran's shares last traded on Thursday when they closed 4.35% lower at 11 kuna ($1.43/1.46 euro), bourse data showed.
(1 euro=7.525 Croatian kuna)