Italian Palumbo Group Acquires Croatian Viktor Lenac Shipyard

Italian shipyard group Palumbo Group has taken over Viktor Lenac, a shipyard in Rijeka, Croatia.

Following the recent acquisition, Palumbo now has a 59.69 percent stake in the yard, according to a statement issued on the Zagreb Stock Exchange.

Palumbo has joined forces with Malta-based P&L Shiprepair Holding to take over Viktor Lenac. The two companies have been buying Viktor Lenac’s shares on several occasions.

Together, the duo now holds almost 82 percent of Viktor Lenac’s shares.

As earlier explained, the intention of the new owners is to enhance the existing capacity of the shipyard in order to achieve better efficiency and operational profitability.

The change in Viktor Lenac’s ownership structure comes after its major shareholders — Tankerska Plovidba and Uljanik — decided to sell their stakes in the yard with the aim “to embrace new challenges and opportunities”.

Viktor Lenac provides building, repairing, conversion and other services for ships and other floating units.

World Maritime News Staff