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Ilej & Partners Advises HPL on Acquisition of 50% Stake in Croatian Avenue Ulaganja

Ilej & Partners Advises HPL on Acquisition of 50% Stake in Croatian Avenue Ulaganja

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Ilej & Partners, in cooperation with Karanovic & Partners and working with Dentons, has advised Singapore's Hotel Properties Limited on its acquisition of a 50% stake in Kupari resort developer Avenue Ulaganja.

HPL purchased one share, with a nominal value of HRK 11.1 million, representing 50% of the registered share capital of Avenue Ulaganja d.o.o. za Turizam i Poslovanje Nekretninama.

According to Ilej & Partners, “Avenue Ulaganja has entered into a project agreement with the Republic of Croatia to develop a site for the provision of tourist services in newly constructed facilities. The site is in Kupari, just south of Dubrovnik, Croatia, and consists of about 13.12 hectares of land and 8.6 hectares of the maritime domain. Avenue Ulaganja has also entered into both hotel management and residence agreements with Four Seasons Hotels & Resorts.”

According to the firm, “this investment will enable the HPL Group to expand and diversify its hotel property portfolio to a new market in a fast-emerging tourist location in Europe and one of the most visited tourist destinations in the Mediterranean.”

Ilej & Partners could not provide additional information on the deal.

Croatian Knowledge Partner

Čipčić-Bragadin Mesić & Associates is one of the leading law firms in Croatia that serve companies, credit & financial institutions and public entities. We have been recommended and recognized as the legal experts and service leaders by many leading international legal guides for more than 15 consecutive years. With roots dating from 1928. we now probably have more tradition, experience and market presence than almost any other law firm in Croatia. We work closely with the leading international law firms and consultants so we’re able to manage complex, cross-border projects and deals seamlessly and successfully. Around 85% of our clients are international enterprises doing business in Croatia. List of our clients include some of the world-renowned companies such as Amazon Europe Core, China Machinery Engineering Corporation, Tate & Lyle, Nafta a.s., Unilever Croatia, Unilever Hungary, Lenovo, Innoenergy CE, Flixmobility, Flixbus CEE South, Okoenergie Group, CTC Holding, Bunge Limited, Chipita, Rolls-Royce, Canvas Holidays, Vacalianselect, Redgate Software, Red gate Investment, Yahoo!, Aston Martin Lagonda, Domino Printing UK, Domino Printing Sciences, Goldman Sachs, Deutsche Bank, Barclays Bank, HSBC, State Street Bank, Citigroup Global Markets, Credit Suisse, Bank of America Merill Lynch, Standard Chartered, Och-Ziff Capital Management, Amundi Asset Management, Altima International, Red Arc Global Investments, SMBC Nikko Capital Partners, Royal Bank of Scotland, Morgan Stanley International, J.P. Morgan group, Allianz Global Investors, Schroders, Macquarie Bank, Digital Finance International, Winton Capital Management, Citibank, Invesco Asset Management Österreich, Croatian Pension Investment Company, Unicredit Bank AG etc. We enjoy learning about our clients’ businesses and want to understand them completely so we can provide the best possible and complete service.

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