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Uljanik bidders include Luxembourg fund and sanctioned Turkish-linked interests
๐Ÿ‡ญ๐Ÿ‡ท Croatia /Economy & Trade

Uljanik bidders include Luxembourg fund and sanctioned Turkish-linked interests

From Veฤernji List · () Croatian

Translated from Croatian and summarized by DistantNews. Read the original for the full story.

At a glance

Analysis Sources not specified Ongoing story
  • Two binding bids have reportedly been submitted for the sale of Uljanik Brodogradnja 1856, but the tender process was not public.
  • The bidders are Turkish shipbuilder Kuzey Star and Luxembourg-based investment fund Mira Finance Capital Holding.
  • Mira Finance offered โ‚ฌ14.5 million, about โ‚ฌ2 million more than its rival, although EU regulatory requirements could affect the outcome.

Two weeks after the tender for Uljanik Brodogradnja 1856 closed, many details about the binding bids remain unclear because their submission and opening were not public.

Unofficial information has identified two competitors: Turkish shipbuilder Kuzey Star, regarded in the industry as a serious shipbuilding company, and Luxembourg-based investment fund Mira Finance Capital Holding.

The difference between the bidders extends beyond their profiles to the financial strength of their offers. Mira Finance has reportedly offered โ‚ฌ14.5 million, around โ‚ฌ2 million more than Kuzey Star. However, strict European Union regulatory mechanisms could make the deal more difficult for the Luxembourg fund.

Residents of Pula would reportedly prefer the state to favor an industrial buyer if the shipyard is sold. Despite that preference, information obtained by Poslovni dnevnik indicates that the balance currently leans strongly toward the Luxembourg bidder.

About this summary

Originally published by Veฤernji List in Croatian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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