June 15 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP] said on Friday it has merged into itself Vienna-based EPIC Hospitality Holding GmbH.
The merger was registered by the Pazin Commercial Court on June 15, Valamar said in a Zagreb bourse filing without providing further information.
According to the proposed draft of the joint merger plan, published earlier by Valamar, EPIC will convey all its assets, rights and liabilities to Valamar, and in return, the hotel co will give (as an aliquot part of their stake in EPIC) 55,594,884 of its shares to EPIC members.
Following the transaction, EPIC members will become direct shareholders in the company.
"Since EPIC is a newly established special purpose vehicle, the intended merger is tax neutral for both companies and Valamar will not be burdened by any liabilities," the Croatian company said in March.
As a result of the intended merger, the following two family companies and one individual will become direct shareholders in Valamar: Wurmbok Beteiligungs GmbH (Wurmbock family), Goldscheider Keramik Gesellschaft m.b.H. (Goldscheider family) and Dr. Franz Lanschutzer. As announced, they intend to continue acting in concert as they have done so far within EPIC.
The Valamar group runs hotels, apartment villages and campsites in Istria, in Dubrovnik and on the Adriatic islands of Krk and Pag.