August 18 (SeeNews) - Croatian hotel owner and operator Jadran [ZSE:JDRN] said on Thursday its management has proposed to its shareholders to buy 100% of local accommodation and tourism company Adria Coast Turizam for up to 47.1 million euro ($47.9 million).
The shareholders will vote on the proposal on August 31, Jadran said in a statement to the Zagreb bourse without elaborating.
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According to data from the commercial court's register of companies, the shareholders in Adria Coast Turizam are five local businessmen and energy company Iskraemeco.
Jadran's shares traded at 50.13 kuna ($6.78/6.67) on Thursday on the Zagreb bourse, up 0.26%.
(1 euro=7.517 Croatian kuna)