Croatian tycoon Danko Koncar's Kermas Energija has won the race to take part in the financial restructuring of compatriot shipbuilder Uljanik Group.

Koncar, who already controls the domestic Brodotrogir yard, will now take an unspecified stake in Uljanik, the country's biggest yard group.

Letters of intent were also received from Asian Bond Ventures in Hong Kong and Croatia's DIV Grupa, which controls another shipbuilder, Brodosplit, Uljanik said.