Croatian tycoon Danko Koncar has emerged as a potential investor in shipbuilder Uljanik group's restructuring.
His Kermas Energija company said it is interested in taking part in the state-backed refinancing of the Pula shipbuilder.
Koncar already owns domestic shipyard Brodotrogir, which was privatised in 2013.
Kermas Energija has submitted a letter of intent for the restructuring, it said in a Zagreb bourse filling.
The company provided no further details.
Kermas is part of Kermas Limited, which also has investments in mining, renewable energy, property, marina development and agriculture.
Uljanik said it had received the letter about "restructuring and diversification."
Talks in progress
The yard has sent out invitations to strategic partners.
CEO Hrvoje Markulincic has said it was negotiating with several serious domestic and foreign investors, according to the Hina news agency.
Markulincic added Uljanik was the only Croatian shipyard that has not yet been restructured.
Last month, management presented a proposal to the economy ministry which also involves the state taking part.
The ministry said minister Martina Dalic and representatives of trade unions had also held talks.
Unions told her they were worried about the financial situation.
Dalic said the shipyard had incurred significant losses despite the fact that its orderbook is full, which has prompted bosses to aim for a full restructuring.
"The proposed restructuring plan, which was presented to the ministry, envisages the participation of the state in the restructuring process, as well as finding a strategic partner to ensure the long-term sustainability of the company's business operations," the ministry added.
Any deal must involve all current shareholders.
The ministry plans to start consultations on the matter with the European Commission this month.
Uljanik is building tankers, bulkers, ro-ros, livestock carriers, cruiseships and dredgers up to 2020.
