February 14 (SeeNews) - Croatia's shipping company Uljanik Plovidba [ZSE:ULPL-R-A] said two sister companies within the Uljanik Group, Uljanik Tanker Management and Uljanik Shipmanagement, have merged into one company under the latter's name.
Uljanik Shipmanagement, based in Singapore, will continue to operate as a synergy of the two subsidiaries, Uljanik said in a filing to the Zagreb bourse on Monday.
You can subscribe to our M&A newsletter here
The merger was performed in order to achieve operating economies and synergy benefits, it added.
Uljanik Plovidba led the gainers among the blue chips on the Zagreb Stock Exchange on Monday. Its stock closed 4.04% higher at 160.33 kuna ($22.8/21.5 euro), as 598 shares changed hands.
(1 euro= 7.45395 kuna)