June 14 (SeeNews) - Croatian shipbuilding company Uljanik has sold a 4.64% stake in its peer Brodogradiliste Viktor Lenac [ZSE:VLEN] to local pension fund manager Erste, Viktor Lenac said on Thursday.
Following the transaction, which took place on June 12, Uljanik holds a 20.52% stake in Brodogradiliste Viktor Lenac, while Erste controls 9.59%, the shipbuilder said in a Zagreb bourse filing.
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Uljanik sold a total of 780,000 shares in its peer for an undisclosed amount.
On June 13, Viktor Lenac said Italy's Palumbo Group and Malta-based peer P&L Shiprepair Holding Limited S.p.A. are set to launch a buyout bid for the 59.48% stake they don't own in the company.
Together, the two companies hold a 40.52% stake, which obliges them to launch a buyout bid under Croatian law.
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 S.p.A..