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Biggest Business Transaction in Croatian Tourism History

Croatia1The wealthy Chilean-Croatian Lukšić family have just purchased Istraturist Umag, which operates hotels, apartments and villas in Croatia, from Zagrebačka banka for 120.1 million euros, making it the largest tourism business deal in the country’s history, the Zagreb Stock Exchange reported on Tuesday…

Lukšić’s Plava Laguna company, based in Poreč, have now become 93.04% share holders in the Umag company. The purchase puts the Lukšić’s on top of the throne in the tourism sector in the country, with 45,000 beds (in accommodations), overtaking the Austrian-owned Valamar hotels which have 42,000 beds.

Plava Laguna's Davor Lukšić

Plava Laguna’s Davor Lukšić

“This deal represents a key event in the history of our group in Croatia. Twenty years after our first investment, we have confirmed a commitment to long-term investment in Croatian tourism,” said Plava Laguna’s Davor Lukšić, who described the negotiations, which have been ongoing for more than 8 months, as ‘challenging’.

The Lukšić’s will add 16 hotels, villas and apartments to their current portfolio with the purchase of Istraturist. The Lukšić family, who settled in Chile, have mining, brewing and banking interests around the world. Luksic’s Croatian operation is run by Davor Lukšić, the 30-year-old grandson of the Lukšić empire creator Andronico Lukšić.

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