Divjak, Topic & Bahtijarevic has advised the Turkish Dogus Group on its purchase of a majority stake in the Villa Dubrovnik hotel from the Croatian Heruc Group.
The transaction closed on April 14, 2014, when the transfer of shares was registered and all other pertinent actions executed. The Dogus Group now holds 3 Croatian marinas and 2 Croatian hotels in its portfolio, and the estimated value of its investments in the country is over EUR 200 million. In addition, Dogus is in the final stages of a transaction involving the acquisition of another hotel on the Adriatic coast, with two more in the works.
DTB expects Dogus' investments in Croatia to total over EUR 400 million.
