Kuzey Star selected to acquire Uljanik shipyard in Pula

The Center for Restructuring and Sale (CERP) has officially selected the Turkish shipyard Kuzey Star Shipyard Denizcilik to purchase Uljanik Brodogradnja 1856 in Pula. The Turkish company submitted a binding offer of 12,053,500 euros, which exceeds the initial asking price. As part of the agreement, Kuzey Star has committed to maintaining the core shipbuilding activities, including the construction and repair of ships and floating objects within the concession area.

A competing bid from the Luxembourg-based Mira Finance Capital Holding was declared invalid. Although the holding company provided a copy of a payment order for the bid security, CERP confirmed that the required amount of approximately 111,000 euros was never actually credited to their account.

Because Kuzey Star is headquartered outside the European Union, the acquisition is subject to a mandatory foreign investment review under Croatian law. The formal transfer of ownership will proceed once the Ministry of Finance issues a decision regarding the admissibility of this foreign investment.