Arena Zagreb for Sale?

Ingra, the company that built Arena Zagreb and is its owner, is reportedly considering selling the facility. The company spent around 90 million euros on the construction of the hall, and the repayment period for the loan is approaching. The first installment is due in March, reports the portal hrt.hr

According to the words of Ingra’s Director of Corporate Communications, Danko Družijanić, the contract between Zagrebački holding and Ingra was signed back in July 2007. The contract specified the payment of rent and a deposit of around 60 million kuna that the Holding was supposed to pay. The contract stipulated a rent of 1.8 million euros quarterly (7.2 million annually).

Ingra states that if the Holding does not comply with the agreement, they can terminate it and offer the Arena for sale, lease, or management to another party. Družijanić says that Ingra has already established certain contacts with companies interested not only in management but also in entering the ownership structure of Arena Zagreb.

Before loosening the purse strings, Mayor Milan Bandić wants to see a permanent occupancy permit and is not at all worried that Ingra might sell the Arena. He emphasizes that Ingra is getting closer to obtaining a permanent occupancy permit, and thus resolving all issues regarding the hall. Ingra, on the other hand, states that any occupancy permit issued by the competent authority, as stated in the contract, is a sufficient reason or condition for the takeover by Zagrebački holding.

The Arena failed the inspection due to the steel structure of the roof. The opinion on this was given by IGH, a company owned by Jure Radić, who is considered a competitor of Ingra. It is speculated that IGH could soon be excluded from the team that provides opinions for issuing occupancy permits. Meanwhile, the City of Zagreb, as the user of the Arena, is announcing an international tender for a concessionaire. (www.hrt.hr)