Imperial dd and Hoteli Makarska dd announced the merger

first_img“Our new company Imperial Riviera dd will continue to invest, create new jobs, develop tourism business and act as an economic driver of its destinations in Makarska and on the island of Rab. We believe that this is a significant step forward in the common interest of all stakeholders of the merged companies, as well as local communities in Makarska and on the island of Rab.” pointed out Vlado Miš, President of the Management Board of Imperial dd  The Management Boards of the tourist companies Imperial dd and Hoteli Makarska dd have signed an Agreement on the merger of the Makarska tourist company into Imperial dd, and the merged companies will continue to operate under the name Imperial Riviera dd with its headquarters in Rab and a branch in Makarska. The new company Imperial Riviera dd will own six hotels, three tourist resorts and two camps in the leading Croatian destinations Rab and Makarska, which makes 3.618 accommodation units and a capacity to accommodate 9.000 guests, and will be one of the ten largest tourist companies in Croatia.  With the merger, Hoteli Makarska will transfer all its assets, rights and obligations to Imperial, so the total share capital of Imperial will increase from HRK 254 million to HRK 401 million. As compensation for the transferred value, the shareholders of Hotel Makarska dd will become shareholders of Imperial by receiving 0,32679 shares of Imperial for each share of Makarska. The corresponding number of shares will be rounded to the first lower whole number, and the difference will be paid to the shareholders in cash.  The intensive investment cycle launched in the previous period in Makarska and Rab after privatization, worth HRK 250 million, will continue in the merged company on a significant scale and with much greater investment potential, which will enable increased capital investments in the future, say the management of Imperial doo “Imperial Riviera dd will employ about 900 workers in the season, of which 40% are full-time employees, while retaining all acquired employee rights in Makarska and Rab and maintaining the existing collective agreements. This merger will provide even better working conditions for our employees in the long run and enable them to gain new knowledge and experience and new career opportunities. Business will continue to be organized as a destination, which will keep jobs in both Makarska and Rab” pointed out Joško Lelas, President of the Management Board of Hoteli Makarska dd Also, the new Imperial Riviera dd plans to continue investing in the material rights of workers in accordance with investments in tourist facilities and raising the quality of services, which with increased management efficiency and better corporate governance represents added value for employees and shareholders.  Valamar Riviera dd will continue to manage all hotels, resorts and camps in Makarska and Rab under the brands Valamar – All You Can Holiday and Camping Adriatic by Valamar, which ensures their continuity in the market and the continuation of successful business in tourism.   The merger should also be approved by the general assemblies during May 2019.last_img