March 1 (SeeNews) - Croatian diversified group Adris [ZSE:ADRS] said it has purchased the 22.22% stake it did not already own in Zagreb-based Expertus, thus indirectly acquiring full ownership of local catering and tourism company HUP Zagreb.
Expertus owns 252,993 shares representing a 58.56% stake in HUP Zagreb, while Adris holds the remainder, Adris said in a bourse filing on Friday.
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In 2019, Adris Grupa acquired a 77.78% stake in Expertus, becoming an indirect shareholder in HUP Zagreb. Adris was then obliged to launch a bid for the remaining shares in HUP Zagreb, offering 3,446 kuna ($548.2/454.9 euro) per share. Following the mandatory buyout bid, Adris ended up owning over 95% of the shares of HUP Zagreb.
Adris has said that the acquisition of HUP Zagreb will allow it to expand its footprint in tourism. It will take control of hotels in the most attractive tourist destinations in Croatia - Rovinj, Dubrovnik and Zagreb.
(1 euro = 7.57585 kuna)