Struggling Croatian shipbuilder Uljanik Group has picked rival Brodosplit, in partnership with Italian yard giant Fincantieri, as its new white knight.
The company will be the yard group's new strategic partner, Uljanik said in a filing on Thursday.
Brodosplit will now have to draw up an acceptable and feasible plan to revive Uljanik, which has been hit by delays, cancellations and worker strikes amid liquidity problems.
