Palumbo Group S.p.A. and sons of Antonio Palumbo will launch a takeover bid to acquire the remaining 59.48% stake in Brodogradiliste Viktor Lenac d.d. (ZGSE:VLEN) for HRK 92.6 million on June 13, 2018. Palumbo Group holds an 18.24% stake, while the sons of Antonio Palumbo hold 22.28% stake in Brodogradiliste Viktor Lenac. The offer per share is HRK 9.26. As on August 10, 2018, The Croatian Financial Services Supervisory Agency approved the transaction. Palumbo Group S.p.A. and sons of Antonio Palumbo completed the acquisition of an additional 41.45% stake in Brodogradiliste Viktor Lenac d.d. (ZGSE:VLEN) for HRK 64.5 million on October 1, 2018. The buyers acquired 6.97 million shares of Viktor Lenac from 157 shareholders. Post-completion, the stake owned by Palumbo Group in Viktor Lenac increased to 59.69% from 18.24%. Palumbo Group and sons of Antonio Palumbo collectively owns 81.97% stake in Viktor Lenac.