February 24 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP-R-A] said on Friday it has signed a merger agreement with its 100% owned Pula-Puntizela tourist resort.
The deal will becomes effective once it is approved by the assemblies of both companies, Valamar said in a filing with the Zagreb bourse.
Following the merger, Puntizela will cease to exist as its own entity.
The Valamar group runs hotels, apartment villages and campsites in Istria and in Dubrovnik and on the islands of Krk and Pag.