Lošinj’s Jadranka in hands of Russian bankers

Company Beta investment informed investment community that it got the duty to publish offers for taking over of Mali Lošinj’s Jadranka  after it previously bought 50,18 % of ownership in that biggest tourist company of Mali Lošinj. Because of that Zagrebačka burza on Tuesday for short stopped trading with Jadranka’s shares.Company Beta investment whose headquarters are inZagreb, was established by Russian company UK Promsvyaz, and according to the information from Court register, basic capital is 162,3 million kunas. It is the word about one of the biggest Russian investments since independence ofCroatia. It is still not known from who Beta investment bought the shares, since the biggest owner with 24,9 % of shares is Jadranka ESOP, and then it follows company Riva with 13 % ownership which was connected from 2013 with Beta investment.

Jadranka hotels and shop has 8,3 % of ownership which is enough  for third position of biggest co-owners. UK Promsvyaz in the ownership of Promsvyazbank, one of the leading Russian banks whose one of the owners is co-owner of European bank for reconstruction and development which is also 30% owner of Jadranka hotels, company inside the group Jadranka, which has 10 hotels and villas on island Lošinj. EBRD came into ownership as strategic partner in order to help Jadranka to renovate its hotels, and in last four years it was invested more than 80 million euro in reconstruction of three hotels and about 10 more million euro in camps. Company has very ambitious plan to continue reconstruction and transformation of Mali Lošinj’s destination in order to be competitive enough  in wholeMediterranean. As the time for leaving EBRD from the ownership, some owners have obviously estimated that Russian capital would be good enough substitute  to EBRD in reconstruction of infrastructure even though the president of management  Sanjim Šolić recently demanded  that Russian companies are interested to entrance the ownership.

Jadranka was since its establishing in year 1947 the biggest company on Cres and Lošinj, and the majority of citizens on these islands depend on that. It employs the biggest number of citizens of Mali Lošinj, and there it works 530 permanently employed workers and on average per year another 300 seasonal workers, Jadranka is since 2005 organized as holding where company Jadranka d.d. manage with its depending companies and majority  shares in certain companies, and business was transferred on daughter company which are in 100 % ownership of Jadranka d.d., or in companies  where Jadranka has major or minor share. The members of Group Jadranka are Jadranka hotels, Jadranka camps, Jadranka shops andCampSlatina.Jadrankaapart from that has shares  in companies Jadranka Yahting and Airport Lošinj. From 1995 as a part of Jadranka works radio station “Radio Lošinj radio Jadranka” with the frequency for local area. Jadranka hotels bring the biggest incomes to holding, and last year it had 164, 5 million kuna and 4,1 million kuna of profit.

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