Valamar Riviera d.d. (ZGSE:RIVP) and Allianz ZB d.o.o. agreed to acquire 55.48% stake in Hoteli Makarska d.d. (ZGSE:HMAM) from Croatia's state-run Center for Enterprise Restructuring and Privatisation (CERP) for HRK 172.7 million on February 12, 2018. Under the terms of the transaction, Valamar and Allianz would acquire 0.62 million shares of Hoteli Makarska. Following the completion, Valamar and Allianz would jointly launch a bid for the acquisition of the remaining stake in Hoteli Makarska.