Ljubljana share indices end week up, Telekom Slovenije leads gainers
Most Sofia bourse indices fall, Fibank paces blue-chip losers
UPDATE 1 - Bulgarian regulator okays 6.5% hike in Dec natgas price
Zarneni Hrani Bulgaria boosts 9-mo cons net profit, revenue falls
Fitch reaffirms Euroins Insurance Group at B+, outlook stable
Nov 13, 2017 12:04 EEST
November 13 (SeeNews) - Croatian tourism company Sunce Koncern [ZSE:SUKC] said on Monday it has established a joint venture with Germany-based peer TUI by selling to it 50% of hotel operator Punta Zlatarac Tucepi.
The two companies have also set up a joint venture management company in which Sunce holds 49% and TUI owns 51%, Sunce Koncern said in a Zagreb bourse filing. The new company will manage all hotels run by Punta Zlatarac.
The stake in Punta Zlatarac Tucepi changed hands for 31.5 million euro ($36.7 million).
Sunce Koncern will direct the proceeds from the deal to refinance existing debts.
Punta Zlatarac Tucepi is a 100% subsidiary of Hoteli Tucepi, which is part of Sunce koncern. Punta Zlatarac Tucepi is the owner of the hotel TUI BLUE Jadran in Tucepi.
TUI Group is a multinational travel and tourism company headquartered in Hannover, in Germany. It is the largest leisure, travel and tourism company in the world.
Sunce Koncern, founded in 2004, owns and operates a chain of hotels and resorts under the Bluesun brand in Dalmatia, Bol, Brela, Tucepi, Starigrad Paklenica, and Marija Bistrica.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options