Private Croatian owner Tankerska Plovidba is to make an offer for the rest of listed spin-off Tankerska Next Generation (TNG) after snapping up large amounts of shares in recent days.

The tanker and bulker player is aiming for 100% ownership of the MR product carrier specialist after building its stake from 51% to 91.4% in a week.

The parent’s law firm — Mamic, Peric, Reberski, Rimac — has now issued a statement saying the company intends to make a voluntary tender offer to the minority shareholders.