Meeting of the Hanfa Board: The rejection of Zentralschweizerische Investment Holding’s request for the approval for publishing a takeover bid for Luka Rijeka
The Board of the Croatian Financial Services Supervisory Agency (Hanfa) adopted a decision rejecting a request by Swiss Zentralschweizerische Investment Holding AG for the approval of publishing a voluntary bid for the takeover of the company Luka Rijeka.
The explanatory note for the decision states that the Swiss company, despite multiple requests for deadline extensions and obtained deadline extensions, did not provide the documentation necessary for proceeding upon the request. In June, Hanfa gave its final warning to the attorney-in-fact of the company, but since no change occurred, Hanfa rejected the request in line with Article 25 of the Act on the Takeover of Joint-Stock Companies. At the time of the submission of the request on 13 April 2023, Zentralschweizerische Investment Holding was not a shareholder of Luka Rijeka.
Note that on 28 April 2023 Hanfa approved the announcement of a mandatory takeover bid for Luka Rijeka to Port Acquisitions, a Czech company. That obligation occurred after the company exceeded the control threshold, which was 34.42% of the initial capital of Luka Rijeka at the time of the submission of the request for the approval of the announcement of the takeover bid.
More details from the meeting are available here21st Meeting of the Board.
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