Uljanik d.d. (ZGSE:ULJN-R-A) entered into a letter of intent to acquire 83.32% stake in 3.MAJ d.d. (ZGSE:3MAJ-R-A) for HRK 1.1 million in December 2012. Uljanik will acquire 1.1 million shares of 3.MAJ for HRK 1 per share. As of June 28, 2013, Uljanik d.d. signed a contract to acquire 83.32% stake in 3.MAJ d.d. The supervisory board of Croatian shipyard Uljanik gave the green light for issuing a letter of intent on November 30, 2012.

The transaction is subject to approval of the European Commission. As of February 8, 2013, Uljanik submitted a further binding bid to the economy ministry to acquire the shares in 3.MAJ. Under the terms of the bid, Uljanik will offer HRK 1 per share and HRK 75 million of its corporate guarantees for the restructuring plan of 3.MAJ d.d. The signing of a contract and the completion of the transaction is expected in May 2013.

As of June 6, 2013, the Croatian government accepted the offer.