One of the most famous symbols of Croatian shipbuilding is passing into the hands of a Turkish investor. Croatia’s Restructuring and Sale Center (CERP) has officially confirmed that the bid from the Turkish shipyard Kuzey Star has been selected for the purchase of Uljanik Brodogradnja 1856 from Pula, writes Biznisinfo.ba.
This involves the sale of a 97.13 percent stake in the company that continued shipbuilding operations following the collapse of the former Uljanik Group. Kuzey Star offered 12 million euros, which is above the starting price of approximately 11.08 million euros.
CERP’s decision practically paves the way for the Turkish investor to enter one of the best-known shipyards on the eastern coast of the Adriatic.
Larger bid drops out of the race
Interestingly, the Turkish bid was not the largest financially. A company from Luxembourg, Mira Finance Capital Holding, was also interested in Uljanik, offering about 14.5 million euros.
However, CERP deemed this bid invalid because the payment for the bid bond, amounting to slightly less than 111,000 euros, was not recorded in its account. As a result, Kuzey Star remained the only bidder whose offer met the procedure’s conditions, it was confirmed to Novi list.
Shipbuilding must remain the core activity
An important part of the entire deal is the new owner’s obligation to continue shipbuilding operations in Pula. The buyer is bound to maintain the activity of building ships and floating structures, as well as their repair and maintenance, which is particularly important given the long industrial tradition of this location. Kuzey Star is a Turkish shipbuilding company based in Istanbul that operates in the segments of ship construction, overhaul, and conversion. By entering Uljanik, the company would thus gain a significant industrial base in the European Union and Adriatic market.
Although the buyer has now been officially selected, the takeover is not yet fully completed. Given that the investor comes from Turkey – a country that is not a member of the European Union – the transaction is subject to Croatia’s foreign investment screening mechanism. The transfer of ownership stake will therefore follow only after the competent institutions issue a decision on the permissibility of the investment.
A new chapter for Uljanik
For decades, Uljanik was one of the largest industrial systems in Croatia and one of the most recognizable shipbuilders in this part of Europe. The old system suffered a severe financial collapse, after which shipbuilding operations were continued through the company Uljanik Brodogradnja 1856.
The sale of almost complete ownership to Turkey’s Kuzey Star is now expected to mark the beginning of a new chapter for the Pula shipyard.
For Pula and Croatian shipbuilding, it will be particularly important what plans the new owner has for production, investments, and employment, and whether they can secure a long-term perspective for the former industrial giant.
(Slobodna Bosna, 14.09.2026)
https://www.slobodna-bosna.ba/vijest/505195/ponos_hrvatske_industrije_ide_u_turske_ruke_chuvena_firma_iz_pule_mijenja_vlasnika.html
