Ringier, the Swiss media group and a leading publisher in Serbia, has entered the Croatian market by purchasing 70% of the company “Foto nekretnine”, which owns online real estate advertising websites by the same name in Croatia and Serbia.

The value of the takeover is still officially confidential, but unofficially we have discovered it to be approximately 3 million kunas. By the end of next year, the Swiss company will acquire the remaining 30% of the company. In less then a year, we have witnessed the second case of investors interest in purchasing Croatian real estate web portals. Last year, the Slovenian Fund Poteza Venture invested 6,5 million kunas into the Croatian company GoHome.
(AmCham)