May 17 (SeeNews) - Italy's Palumbo Group has increased its stake in Croatian shipbuilding company Brodogradiliste Viktor Lenac [ZSE:VLEN] to 14.04% from 4.53% in two transactions, Viktor Lenac said.
Palumbo Group bought a 4.99% stake in the company on May 9, and then on May 11 it purchased a further 4.52%, Viktor Lenac said in a Zagreb bourse filing on Wednesday.
You can subscribe to our M&A newsletter here
Following those transactions, the Italian group owns 2,360,002 shares in Viktor Lenac.
Also on Wednesday, the Croatian company reported that its local peer Uljanik has disposed of 833,215 of its shares, or 4.96%, following which it holds 4,299,785 shares.
No information on the purchaser of those shares was provided by Brodogradiliste Viktor Lenac.