Port News & Information Mediterranean, Black & Caspian Seas
Free read
Source: Port Authority of Rijeka

Croatia approves takeover of Luka Rijeka by Czech company

Posted on

Rijeka, Croatia (Ports Europe) May 2, 2023 – The Board of Directors of the Croatian Financial Services Supervisory Agency (Hanfa) has approved the takeover of Luka Rijeka by the Czech company Port Acquisitions. The price that Port Acquisitions undertakes to pay per share is €8.40 for each ordinary share of Port of Rijeka.

The highest price at which the bidder acquired the shares of Luka Rijeka in the period of one year prior to the obligation to publish the takeover bid was €.85 per share. Also, from December 13, 2022 to March 13, 2023, the weighted average price on the Zagreb Stock Exchange for the specified share was €8.40. Therefore, the proposed price in the offer is in line with the Act on Takeover of Joint Stock Companies.

The bidder has also submitted to Hanfa an irrevocable bank guarantee confirming that, in case of interest of all remaining shareholders, it is able to provide funds for the payment of all remaining shares of Port of Rijeka.

The obligation to publish a takeover offer arose on March 14, 2023, when, after the continuous acquisition of company shares, the control threshold was crossed in the share capital of Luka Rijeka. On that day, the bidder had a total of 4,640,579 ordinary shares, or 34.42% of the company’s share capital.

Further details on Hanfa’s decision can be read here.

More Ports Europe news about the Port of Rijeka

Copyright (C) Ports Europe. All Rights Reserved. 2023.

Subscribe to weekly news

We keep you informed on the top European port news.