If all shareholders of the Viktor Lenac shipyard decided to sell their shares to the new largest shareholder, the Palumbo group, it could cost the Italian company around 92.6 million kuna. This amount is derived by subtracting the total number of shares of Viktor Lenac from the current shareholding of the Italian group (which currently holds 40.52 percent of the company) and multiplying it by the weighted quarterly average of 9.26 kuna per share.
>>>Two major shareholders sold shares of Viktor Lenac
It should be noted that the mentioned calculation by Lider is based on published data from the Zagreb Stock Exchange. Namely, in mid-June, the Italian group became obligated to publish a takeover bid. This bid is currently with the Croatian Financial Services Supervisory Agency and is awaiting a decision from the Management Board. The exact price that the Palumbo group will offer to shareholders will only be known once Hanfa approves the takeover bid.
>>>Viktor Lenac: If for sale, there are already interested parties
According to data from the Zagreb Stock Exchange, the Italian group has acquired shares of Viktor Lenac several times, with prices ranging from nine kuna per share to 9.28 kuna per piece.
Although the intentions of the Italian group have not yet been publicly announced, which will likely happen after the announcement of the takeover bid, it seems that the current direction and operations of Viktor Lenac will not change. At least not immediately. Viktor Lenac is a repair shipyard and cannot be compared to ‘classic’ Croatian shipyards. Moreover, one of Viktor Lenac’s clients is the U.S. Navy, which speaks volumes about the expertise of this shipyard.
>>>Viktor Lenac shipyard achieved 70 percent more total revenue in 2017
On the other hand, the Italian group Palumbo is headquartered in Naples. It is a family-owned company that has been operating for over half a century and has shipyards throughout the Mediterranean. The main activities of the group are shipbuilding and repair, as well as the construction of custom yachts.
