Italy's Palumbo Group has been amassing a holding in Croatian shipyard Viktor Lenac.

The yard said the shiprepairer now owns 14.04% of its stock, according to the Hina news agency.

The shares were acquired from Croatian shipbuilder Uljanik Group and domestic shipowner Tankerska Plovidba.

At the end of March, Tankerska had 36.55% and Uljanik had 34.67%.

This has been reduced to 27.04%