Slovenia's Bernardin agrees to sell four hotels to Croatian peer - media

Hoteli Bernardin signed an agreement with creditor banks on restructuring its 50 million euro loans in March 2014, which included the sale of individual hotels, local news outfit Regional Obala said in May.

The CEO of the Bernardin Hotels, Marko Jazbec, confirmed to Delo the unofficial information that Hotels Cavtat Dubrovnik, which is majority-owned by Liburnia Riviera Hotels Opatija, would pay for the purchase approximately 24 million euro.

The sale will almost halve Bernardin's debt, which will have a positive effect on its operations, the company told Delo. The selling process is about to end in March 2015.

In addition, the Bank Assets Management Company, or DUTB, appointed on Tuesday Edita Merdanovic as supervisor in Bernardin in the place of Miran Krasevec. Delo could not find out why DUTB wanted to have control in Hotels Bernardin.

Hoteli Bernardin is majority owned by financial group NFD Holding. It became the largest Slovenian hotel company in 2009 by acquiring rivals Metropol Group, Piran Hotels and Simonov Zaliv. In 2013 it posted 34.2 million euro in sales and a loss of 1 million euro, according to NFD's annual report.

($ = 0.806 euro)