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Croatia's ALH Group gets nod to take over two local hotel companies


17.8.2012 16:23:00 | Author/Source www.seenews.com

Croatia's financial regulator said on Friday it has cleared Rijeka-based Adriatic Luxury Hotels (ALH) Group to place takeover bids for local companies Hotel Bellevue and Hotel Excelsior.

ALH controls 94.95% of Dubrovnik-based Hotel Bellevue and is offering to pay 300 kuna ($49.7/40.2 euro) for each share it does not already own, the Croatian Financial Services Supervisory Agency said in a statement.


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