The mentioned stake is, on the day of the submission of the binding offer is held by the company Dalmacija Hoteli.
Imperial Riviera published an announcement on the Zagreb Stock Exchange stating that the Management Board, based on the prior consent of the Supervisory Board, submitted a binding offer for the purchase of 63.05% of the share capital of the company HTP OREBIĆ (Ticker: HTPO). The mentioned stake is, on the day of the submission of the binding offer is held by the company Dalmacija Hoteli. The only shareholder of Dalmacija Hoteli is Prosperus Private Equity Fund. Note that the purchase price was not yet announced.
HTP Orebić operates 4 hotels with 255 accommodation units (three of them 4* and one 3*) in Orebić, Croatia. As of 2019, the company reported operating revenues of HRK 29.97m, EBITDA of 5.82m (EBITDA margin: 25.4%) and a net profit of HRK 1.82m (profit margin: 7.9%). Furthermore, the company operated with HRK 76.85m in total assets, while their net debt/EBITDA amounted to 1.8x.
As a reminder, Valamar together with AZ pension fund own 90.55% of class A of shares of Imperial Riviera. Valamar Riviera, the second largest shareholder (43.7%) consolidates Imperial Riviera’s results.