EBRD, Italy to help Serbian Railways Infrastructure raise standards
Bosnia's net electricity output up 17% y/y in Sept
Romania's DN Agrar Group 9-mo net profit surges 111% y/y
Croatia's industrial sales up 1.2% y/y in Sept
Croatia's GDP grows by 2.8% y/y in Q3 - first estimate
Dec 27, 2017 16:30 EEST
December 27 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP] said on Wednesday it submitted a binding bid for a 55.48% stake in local peer Hoteli Makarska to the state-run center for enterprise restructuring and privatisation, CERP.
Valamar has signed a cooperation agreement with pension fund manager Allianz ZB to act jointly towards acquiring the stake in Hoteli Makarska, it said in a filing with the Zagreb Stock Exchange.
You can subscribe to our M&A newsletter here
In November, CERP set the minimum asking price for the majority stake in Hoteli Makarska at 150.1 million kuna ($23.7 million/19.9 million euro).
Makarska notified the bourse that CERP will seek 241.65 kuna for each of 621,086 shares in the hotel company in its call for binding bids. It said at the time that CERP has received 26 non-binding bids for the majority stake in Hoteli Makarska.
Croatia has unsuccessfully tried to sell Hoteli Makarska in the past.
(1 euro=7.54005 kuna)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options