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CEELM Comparative Legal Guide: Corporate Governance 2023

DTB Advises Bohemian Financing and Topaz Zagreb on Mandatory Public Offering of Hoteli Jadran Shares

DTB Advises Bohemian Financing and Topaz Zagreb on Mandatory Public Offering of Hoteli Jadran Shares

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Divjak, Topic, Bahtijarevic & Krka has advised Hungarian financial enterprise Bohemian Financing and Topaz Zagreb on the mandatory public offer of shares of Croatian tourist company Hoteli Jadran.

According to DTP, “Bohemian acted in concert with the direct shareholder of Hoteli Jadran, Croatian company Topaz Zagreb.” In addition, the firm reported, “the said public offer was unique in that it was the very first time that a fair price for the shares within the mandatory public offer procedure was valued at zero HRK (due to the fact that Hoteli Jadran operated with negative equity).”

Furthermore, DTB reported that the mandatory public offer was triggered by an indirect change in shareholding in Hoteli Jadran, caused by the change of shareholding in its owner, Topaz.

DTB’s team included Senior Partner Damir Topic, Lawyer Iva Crnogorac and Trainee Iva Vukoja.

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