February 12 (SeeNews) - Croatian hotel operator Jadran confirmed on Monday that the country's state-run centre for enterprise restructuring and privatisation, CERP, will sell a package of just under 34.8 million shares in the company to pension fund managers PBZ Croatia Osiguranje and Erste.
CERP has accepted the joint bid for a total of 34,754,768 shares in Jadran lodged by PBZ Croatia Osiguranje and Erste, Jadran said in a Zagreb bourse filing.
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The 34.8 million shares correspond to a 70.74% stake.
PBZ Croatia and Erste offered 199.8 million kuna ($32.9 million/26.8 million euro) for the stake, or 5.9 million kuna above the starting price, Jadran said earlier.
Jadran exited bankruptcy proceedings in 2014, following which the Croatian state and CERP became its largest shareholders with a combined stake of over 70%.
(1 euro=7.4468 kuna)