December 5 (SeeNews) - Croatian micro-brewery The Garden Brewery [ZSE:GARB] said it has cut its interest in restaurant chain Yellow Submarine to 5.16% from 51%.
The new majority shareholder of Yellow Submarine is local fund manager Prosperus Invest, which acted on behalf of its closed-end alternative investment fund Prosperus Growth, The Garden Brewery said in a filing to the Zagreb bourse. It did not disclose financial details about the transaction.
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The Garden Brewery obtained the 51% share in Yellow Submarine in October 2019, as for the whole 2019 the the gourmet burgers company reported a 34.37 million kuna revenue ($4.8 million/4.6 million euro).
In 2022, The Garden Brewery is expected to generate a revenue of 93.31 million kuna, it added.
Shares of The Garden Brewery have not traded on the Zagreb bourse in the last 52 weeks.
(1 euro = 7.552 Croatian kuna)