June 26 (SeeNews) - Croatian shipping company Tankerska Plovidba [ZSE:TNPL] has sold a 22.28% stake in peer Brodogradiliste Viktor Lenac [ZSE:VLEN] to Malta-based P&L Shiprepair Holding Limited, Viktor Lenac said on Tuesday.
Tankerska Plovidba concluded a stock purchase agreement with P&L Shiprepair Holding Limited for the sale of its 3,745,572 shares in Viktor Lenac on June 11, Viktor Lenac said in a Zagreb bourse filing.
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Following the transaction, which according to the deal must be concluded by June 26, Tankerska Plovidba will no longer have a stake in Viktor Lenac.
On June 13, Viktor Lenac said Italy's Palumbo Group and Malta-based peer P&L Shiprepair Holding Limited are set to launch a buyout bid for the 59.48% stake they don't own in the company.
Palumbo Group holds a 18.24% stake in the Croatian company, while P&L Shiprepair Holding Limited controls a 22.28% stake, Viktor Lenac said at the time.
Palumbo Shipyards, with headquarters in Naples, has been in the shipbuilding industry since 1967. It is owned by Antonio Palumbo and his wife, while their sons control P&L Shiprepair Holding Limited.