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Croatia's PND Strategija raises stake in Hoteli Maestral to 94.43%

Author Iskra Pavlova
Croatia's PND Strategija raises stake in Hoteli Maestral to 94.43% Author: Hoteli Maestral Rights: All Rights Reserved

ZAGREB (Croatia), June 11 (SeeNews) - Croatian hotel and tourism operator PND Strategija said it has increased its stake in local peer Hoteli Maestral to 94.43% following a buyout bid.

PND Strategija acquired 131,470 Hoteli Maestral's shares, representing 25.49% of the company's share capital, last month, the buyer said in a Zagreb bourse filing on Monday.

PND Strategija said earlier it would pay 432 kuna ($66/58 euro) per share in the buyout bid.

In November, Croatia's privatisation agency picked PND Strategija as best bidder for the acquisition of 68.94% in Hoteli Maestral. The majority state-owned stake was offered at a minimum price of 126.8 million kuna.

Back then, PND Strategija outbid Czech Republic-based companies J&T IB Capital Markets and Eco Investment, which had also submitted offers in the privatisation tender for Hoteli Maestral.

(1 euro = 7.41239 kuna)

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