February 6 (SeeNews) - Croatian diversified conglomerate Adris Grupa [ZSE:ADRS] said it plans to launch a buyout bid for all the shares it does not already own in local hotel management, catering and tourism company HUP-Zagreb.
Adris Grupa acquired a 77.78% stake in Zagreb-based Expertus, thus becoming an indirect owner of a 58.6% stake in HUP-Zagreb, it said in a filing to the Zagreb Stock Exchange late on Monday.
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Adris is now obliged to launch a bid for the remaining shares in HUP-Zagreb it does not already hold.
On Monday, Adris 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 Group runs a tourism business, an insurance company and a fish farm.