Slovenia’s Iskra Group agreed to acquire the Croatian shipyard 3. Maj Rijeka 1905 for about €6.7 million, equivalent to roughly $7.8 million, marking a new investment in Croatia’s shipbuilding sector.

The transaction followed a privatisation tender organised by the Croatian Restructuring and Sale Centre (CERP). Iskra Shipyard, a subsidiary of Iskra Group, submitted the only bid in the process. The Slovenian industrial group is owned by Dusan Sesok.

Croatian economy minister Ante Susnjar said the arrival of Sesok as an investor creates the conditions for shipbuilding activities at the yard to continue while opening the way for higher production and renewed industrial development.

He added that shipbuilding remains closely tied to Croatia’s industrial base and export capability, describing the sector as an important element of the country’s manufacturing strength and economic identity.

In a LinkedIn statement on Monday, Iskra Shipyard said the acquisition supports its long-term strategy to reinforce industrial capacity and broaden technical capabilities within the group’s shipbuilding operations.

The company noted that its experience in complex vessel refits, naval programmes and specialised ship projects could support the further development of large-scale shipbuilding activity at the Croatian yard while strengthening competitiveness.

3. Maj Rijeka 1905 has historically been part of Croatia’s shipbuilding industry, and the acquisition positions the yard for continued operations under new ownership.

The company did not disclose further financial details beyond the announced purchase value.