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Croatia's Varteks sells real estate asset to supermarket chain Spar

Author Annie Tsoneva
Croatia's Varteks sells real estate asset to supermarket chain Spar

ZAGREB (Croatia), September 27 (SeeNews) - Croatian luxury clothing manufacturer Varteks [ZSE:VART] said it has sold to supermarket chain Spar part of its non-active real estate assets, a construction land plot of 47,250 square metres in Varazdin, in northern Croatia, in a step to improve its liquidity.

“The achieved sales price is higher than the value of the land registered in the company's business books,” the company said in a statement to SeeNews on Monday identifying the buyer.

Varteks' shares did not trade on the Zagreb bourse on Monday.

On Friday, they were the biggest daily gainer surging 20.97% to 7.50 kuna ($1.2 /1.0 euro) in a turnover of only 6,800 kuna as 958 shares changed hands.

(1 euro= 7.502 Croatian kuna)

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