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Croatia's Adris boosts indirect stake in Arena Hospitality Group

Croatia's Adris boosts indirect stake in Arena Hospitality Group Author: Adris Grupa. License: All rights reserved.

ZAGREB (Croatia), June 16 (SeeNews) - Croatian diversified conglomerate Adris Grupa has increased to 10.04% from 1.2% its indirect holdings  in local hotel operator Arena Hospitality Group, the latter said on Friday. 

Adris crossed the threshold of 10% holdings in Arena via its insurer Croatia Osiguranje and mandatory pension fund management company PBZ Croatia Osiguranje, the hotel operator said in a Zagreb bourse filing.

Croatia Osiguranje, in which Adris holds a 66.12%, gained earlier this month a 0.74% stake in Arena, while PBZ Croatia Osiguranje's mandatory pension funds A and B increased their stake by 8.1% to 9.3%.

PBZ Croatia Osiguranje was founded by Privredna Banka Zagreb and insurer Croatia Osiguranje with stakes of 50% each.

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