A consortium led by Aminess has been preselected for Jadran's capital increase. Alongside the financial injection, they plan a developmental turnaround and acquisition of a majority stake of 53.74 percent.
The management of the Crikvenica-based company Jadran has preselected a consortium's bid for a capital increase worth EUR 40.625 million, announced on Monday, August 10, 2026. The consortium consists of Aminess, FEAL IN, and TEXO MOLIOR, which have established the company Adriatic Resorts Group for the execution of this transaction.
According to the preselected bid, Adriatic Resorts Group would acquire a majority stake in Jadran post-capital increase, holding approximately 53.74 percent of shares and voting rights. This management decision is a crucial step towards realization, but the final say rests with the General Assembly of Shareholders.
The planned capital increase involves issuing 32.5 million new ordinary shares at a price of EUR 1.25 per share, totaling EUR 40.625 million. The offer is structured on an "all or nothing" basis, meaning the investor commits to subscribing and paying for the entire amount of new shares, with no possibility of partial execution.
Prior to the capital increase, a reduction is proposed. Jadran's current share capital stands at EUR 64.04 million, comprising 27,971,463 ordinary shares. The capital would first be reduced to EUR 34.96 million, with each existing share corresponding to EUR 1.25 of share capital. Following the issuance of new shares, Jadran's total number of shares would exceed 60.47 million, with Adriatic Resorts Group holding the majority package.
Three bidders participated in the capital increase process. In addition to the selected consortium, MPPD and the Slovenian fund ECP Tactical Opportunities also submitted binding offers. According to unofficial information, the consortium's bid was financially the lowest, suggesting that other elements were decisive in the final evaluation.
Alongside the financial offer, the consortium also submitted a comprehensive development plan. This plan includes the repurposing and renovation of assets, revenue growth and optimization of commercial activities, improvement of operational efficiency, and leveraging the consortium members' expertise in hotel management and tourism real estate development.
The funds raised through the capital increase are intended for investment, renovation, and development of Jadran's portfolio, improving operational performance, and strengthening the company's financial stability and liquidity.
Before proceeding, Adriatic Resorts Group must deposit EUR 4.0625 million into a notary account, representing ten percent of the total offer value. Following this, Jadran's management will convene the General Assembly to decide on the reduction and increase of share capital, the issuance of new shares with the exclusion of pre-emptive rights for existing shareholders, and granting approval to the new investor to acquire shares without the obligation to launch a takeover bid.
The entire transaction will also require regulatory approvals, including consent from the competition authority. Jadran emphasizes that the preselection of the bid does not yet constitute a final choice of investor; the transaction can only be realized after decisions by the General Assembly and fulfillment of all other conditions.
