Danko Končar Becomes Strategic Partner of Uljanik Shipyard

Total Croatia News

ZAGREB, March 28, 2018 – The management and supervisory boards of the Uljanik shipyard have chosen Kermas Energija, owned by entrepreneur Danko Končar, as the strategic partner for its recapitalisation, the Pula-based dock said on Wednesday.

Uljanik said it had received binding letters of intent from three bidders by March 23 – from Asian Bond Ventures from Hong Kong, DIV from Samobor and Kermas Energija from Zagreb.

After consultations with the unions, Uljanik’s management and supervisory boards today decided on Kermas Energija.

Together with the strategic partner, Uljanik will complete and implement a restructuring programme in line with a government decision from January. After the adoption of a restructuring programme, the strategic partner will be able to become a shareholder in Uljanik. In mid-February, Uljanik shareholders decided to increase equity by an amount ranging from 180 to 302.22 million kuna.

On January 11, the government gave the Uljanik group a guarantee to borrow 96 million euro on the condition that the group increase equity by bringing in a strategic partner and prepare and launch a restructuring programme in cooperation with the strategic partner.


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