February 5 (SeeNews) - Croatian diversified conglomerate Adris Grupa [ZSE:ADRS] said on Monday it has acquired a 77.78% stake in Zagreb-based Expertus, thus becoming an indirect shareholder in hotel management, catering and tourism company HUP-Zagreb.
Expertus holds a 58.6% stake in HUP-Zagreb, which runs several four-and five-star hotels including Sheraton and Westin, Adris Grupa said in a Zagreb bourse filing.
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Adris Group noted that this acquisition will allow it to expand its footprint in tourism. It will take under its control hotels in the most attractive tourist destinations in Croatia - Rovinj, Dubrovnik and Zagreb.
"Adris is extremely focused on its business, especially on tourism and the production of healthy food," said Ante Vlahovic, chairman of the board at Adris.
"With the organic, double-digit growth of all our business, this strategic acquisition will further contribute to Adris' development and long-term sustainability," he added.
Adris Group runs a tourism business, an insurance arm and a fish farm.