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Croatia’s Uljanik gives potential investors more time for in-depth study

Croatia’s troubled shipbuilding group Uljanik said on Thursday that it has decided to extend until January 24 the period for in-depth analysis of the state of the company due to interest from potential investors.

Interested investors can access Uljanik’s data room every workday from 8 AM to 6 PM (CET) as well as on Saturday, January 19 from 9 AM to 1 PM, the company said in a filing to the Zagreb Stock Exchange.

The deadline for submitting offer for establishing strategic partnership with Uljanik remains unchanged – 8 PM on January 25.

Croatia’s economy minister Darko Horvat said earlier this month that Italy’s Fincantieri and Australia’s Scenic Group were studying the state of Uljanik in preparation for a possible strategic partnership deal.

The Uljanik Group comprises two major shipyards – Uljanik and 3. Maj, along with smaller subsidiaries. The group has been in financial trouble for some time due to the adverse effects of the global financial crisis on the shipbuilding sector in general which has led to a drop in orders for new vessels.
Source: See News

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