Terme Catez Reportedly Plans to Sell Marina Portoroz to Japanese Investor
March 05, 2021 at 05:46 pm IST
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Terme Catez, d.d. (LJSE:TCRG) plans to sell tourism company Marina Portoroz d.d. to a Japanese investor, Ljubljana-based media reported on March 5, 2021. The company will be sold to a Japanese multinational company for EUR 16 million ($19.1 million), daily Primorske Novice said. However, public broadcaster RTV quotes a report in daily Delo, according to which Marina Portoroz will be sold to a Japanese investment fund for up to EUR 15 million. The contract for the sale of Marina Portoroz does not include the land plot where the company intended to build a new spa resort, Primorske Novice reported. In August, Terme Catez invited candidate buyers for Marina Portoroz to submit letters of interest by September 23. In May, local media reported that Terme Catez had failed to sell Marina Portoroz to local companies Adventure Holding and Glen, after their sales and purchase agreement expired in October 2019 and the subsequent negotiations failed over disagreement on the sale price.
Terme Catez dd is a Slovenia-based company engaged in the tourism industry. Its activities include operating hotels and other type of accommodation facilities; health and wellness; operating congress centers, sports and recreation and restaurants; water facilities such as hotel pools, the Summer and Winter Thermal Riviera, Aquapark Zusterna, Casino and Marina.The Company operates its own health centre, providing rehabilitation fitness services, four gyms, outpatient clinics, therapy premises, isokonetic testin room and ultrasound diagnostic room.The Company operates four-star Hotel Terme, four star-hotel Toplice, three-star hotel Catez, four-star hotel Golf Grand Mokrice, three-star hotel Aquapark Hotel Zusterna, three-star hotel Koper, as well as apartments, and a five-star camping. As of December 31, 2011, Terme Catez dd had four subsidiaries: Marina Portoroz dd, an operator of marina, Terme Ilidza doo, Termalna Rivera doo and Del Nalozbe dd, engaged in real estate management.