The Croatian state is selling its majority stake in the Uljanik shipyard for only 9.7 million euros.

Pula shipyard Uljanik

The Croatian government, as the primary creditor, has decided to proceed with the attempt to sell the Uljanik company. This time, they did not lower the price. The construction of the 526, an unfinished livestock transport ship, was the card the Uljanik management wanted to play to delay the continuation of the company’s sale. They claim to have multiple buyers interested in the ship. “Proof of the seriousness of the offers is the Business Plan detailing how these funds will be used to further the company’s operations,” said Loris Rak, the bankruptcy administrator of Uljanik Shipyard.

During the previous auction, interested parties for purchasing business shares in Uljanik Brodogradnja 1856 d.o.o. included: Slovenian company Eko Bor, Rijeka-based Adria Mont, Romanian GSP Offshore, and Italian company Micoperi from Ravenna. The Italian company submitted a non-binding offer without specifying a price, while the Romanians stated they want to assess the company’s condition before making an offer. The offer amount from Slovenian company Eko Bor was not disclosed. The only concrete offer this time came from Adria Mont d.o.o.

This entire process unfolds amidst very tense circumstances, as Uljanik Brodogradnja 1856 faces the threat of bankruptcy. In such a scenario, the sale of shares would not be possible.