Turkish company Dogus Group has sold its shares in Croatia’s ACI marina chain to pension funds. The company confirmed that it had sold 10.87 per cent of ACI to pensions funds, namely, the AZ category B mandatory pension fund, the AZ Profit voluntary pension fund, and PBZ Croatia Osiguranje, reports Jutarnji List on March 30, 2019.
“We are proud of the fact that we, along with the owner, the Republic of Croatia, were the second largest shareholder of this valuable strategically-important company. D-Marin Group, the global network of marinas which operates as part of the Dogus Group, has recently been growing and expanding its business network, and we had acquisition bids for the ACI shares for some time. We believe that this valuable asset will be in good hands,” announced Dogus.
They added that the sale of shares in ACI was in no way a confirmation of the rumours about Dogus’ sale of assets in Croatia, but just the opposite. Namely, late last year rumours emerged that the well-known group, due to the economic crisis in Turkey, was forced to sell off property, including real estate and businesses in Croatia, but the Dogus quickly denied the rumours, claiming they were not leaving Croatia nor were they selling Villa Dubrovnik, which was in the focus of the speculation.
Dogus announced that the sale of ACI shares would strengthen their position and that they remain dedicated to all their companies and the further improvement of their business results. Also, they have confirmed that their Maraska Hotel project in Zadar, which has been paused for a while, will soon be implemented.
“Although at this point, we cannot announce the specific date given that we are on the eve of the tourist season, we are close to the beginning of the works, and we are currently drafting certain project changes, primarily related to the residential zone,” said Dogus.
In late 2018, the media reported that Maraska Hotel would be the first Dogus investment in Croatia after the group completes the restructuring process in Turkey, but it is still uncertain whether their partner will be the Hyatt hotel brand or whether they will look for an alternative.
Translated from Jutarnji List (reported by Dora Koretić).
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