Valamar Riviera signed a contract for the purchase of shares in Hotel Makarska

On Wednesday, Valamar Riviera signed a contract with the Center for Restructuring and Sale (CERP) for the sale and transfer of 621,086 shares of Hotel Makarska d.d. for a total price of 172.7 million kuna. After the payment of the contractual price and the transfer of shares, Valamar Riviera will acquire a total of 55.48% of the share capital and a dominant influence in Hotels Makarska.

By signing the contract with CERP, Valamar Riviera has incurred the obligation to publish an offer for the takeover of the remaining shares of Hotel Makarska, which will be published in the manner and within the deadlines prescribed by law.

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In this process, Valamar Riviera is acting jointly with AZ mandatory pension funds, with which a joint action relationship has been previously established regarding Hotel Makarska d.d. Upon acquiring shares from CERP, Valamar will transfer shares of Hotel Makarska representing 30.48% of the share capital of Hotel Makarska d.d. to the AZ mandatory pension funds.

The portfolio of Hotel Makarska d.d. consists of the Meteor 4* hotel with 277 accommodation units, the Dalmacija 3* hotel with 190 accommodation units, and the Riviera 2* hotel complex with 258 accommodation units, which represents 43% of the total accommodation offer in hotels in the City of Makarska.

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– Hotels Makarska is a successful company that we will continue to develop in cooperation with AZ mandatory pension funds in the interest of employees, shareholders, the local community, and all other tourism stakeholders in Makarska, emphasized Ivana Budin Arhanić, Vice President for Business Development and Corporate Affairs of Valamar Riviera.