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ZAGREB (Croatia), July 12 (SeeNews) - Zagreb-based Gitone Adriatic said it intends to launch a takeover bid for the remaining 46% of Opatija-based hotel operator Liburnia Riviera Hoteli (LRH) it does not yet own.
Gitone Adriatic signed a contract on July 11 to buy a stake of 53.94% in LHR held by four Zagreb-based companies - SNH Alfa, SNH Beta, SNH Gama and SN Pectinatus, the buyer said in a statement on Thursday.
It did not provide the price of the acquisition but following the purchase of the majority stake, Gitone Adriatic becomes obliged to launch a takeover bid for the remaining LHR shares, it explained.
LHR's share capital is divided into 302,641 shares of 2,300 kuna ($350/311 euro) in par value each.
In the takeover bid, Gitone Adriatic will act together with Zagreb-based Gitone Kvarner company, which is in the process of being established, as well as with their parent company - Austria-based Gitone Beteiligungsverwaltungs, and its owner, Vienna-based Holster Privatstiftung.
(1 euro = 7.39470 kuna)