September 22 (SeeNews) - Croatia's nautical tourism company Angelina Yacht Charter has taken over 85% of local peer Ultra Sailing, creating the biggest charter company for sea-going vessels in Croatia, local media reported on Thursday.
Their combined fleet will have more than 260 vessels to rent out next tourism season, with the vessels to be offered for lease under their existing brands, the Poslovni Dnevnik daily reported, without disclosing the value of the deal.
You can subscribe to our M&A newsletter here
The transaction is in line with Angelina Yacht Charter's strategic goal of continuous growth, CEO Luka Sangulin told Poslovni Dnevnik.
Angelina Yacht Charter and Ultra Sailing did not respond to e-mails from SeeNews seeking comment about the deal by the time this article was published.
Angelina Yacht Charter was set up in 1995 as a family business. Its fleet consists of over 170 sailing yachts, catamarans, motor yachts and motor boats deployed in five nautical bases: Sukosan, Biograd, Sibenik, Rogoznica and Trogir, according to data from the company's website.
Ultra Sailing was founded in 1995 in Split with its core business in nautical and commercial sailing activities. Its team consists of 35 experienced and highly qualified staff members, according to its website.
Data published in the company register held by the commercial court in Split shows that tourism and travel agency Luca was registered as a shareholder in Ultra as of September 2, along with Emil Tomasevic.