NEWS RELEASE
Vevey, Switzerland – September 2, 2021 – CHR Corporation, a Delaware-based corporation represented by Director Marc Deschenaux, has successfully entered into a significant Equity Sale Agreement to acquire a controlling stake of 90% in CHR Eko-Projekt SA, a prominent Swiss corporation based in Wollerau. The formal signing ceremony took place in Vevey, under the auspices of Yvan Leupin, Esq., official public notary and trustee.
Jean-Paul Uldry represented the group of Sellers, consisting of TFI Holding SA, Jakub Hlasek, David Gérard Corminboeuf, Isabelle Uldry, Carine Elisabeth Uldry, and Mathias Gilbert Uldry. The transaction involves the transfer of 90 shares valued collectively at €150,000,000, structured through an innovative loan agreement bearing a 5% annual interest payable quarterly.
CHR Eko-Projekt SA, established in 2007, specializes in international real estate project development and currently manages the Nikola project in Šibenik, Croatia. The transaction reinforces CHR Corporation’s strategic growth ambitions in international real estate markets, significantly enhancing its asset portfolio and operational capabilities.
Under the agreed terms, shares transferred are secured through a pledge arrangement, held in trust by the notary, ensuring progressive release proportionate to the loan repayments. Both parties expressed confidence in the future success of the partnership and underscored the agreement’s structured and transparent terms.
“This acquisition represents a major milestone in our strategy to expand CHR Corporation’s international footprint,” said Marc Deschenaux, Director of CHR Corporation. “We are excited about the opportunities that the Nikola project and other ventures managed by CHR Eko-Projekt SA will bring.”
The agreement explicitly confirms compliance with Swiss law, and all obligations arising are enforceable under Swiss Code of Civil Procedure provisions. Lausanne has been established as the jurisdiction for any legal matters related to the agreement.
This strategic partnership marks a significant expansion for CHR Corporation and underscores its commitment to robust, growth-focused investments across key European real estate markets.
The Nikola Project in Šibenik, Croatia, represents an ambitious and visionary urban development initiative led by CHR Corporation and its Swiss subsidiary, CHR Eko-Projekt SA. This transformative project aims to blend luxury living with sustainable design, deeply rooted in the rich cultural and natural heritage of the Adriatic coast.
Vision and Design
Conceived by renowned Croatian architect Nikola Bašić—famed for the Sea Organ in Zadar and the D-Resort in Šibenik—the Nikola Project embodies a harmonious integration of modern architecture with the authentic Mediterranean lifestyle. Bašić’s design philosophy emphasizes “littoral urbanism,” fostering a seamless connection between the built environment and the sea, promoting a lifestyle that celebrates nature, culture, and community .
Project Scope and Features
Spanning approximately 650,000 square meters, the Nikola Project is set to become the largest premium urban revitalization endeavor in the Adriatic region.
Key components include:
- Residential and Hospitality: Accommodation for around 3,500 permanent residents and 3,500 visitors, featuring 420 hotel rooms across four hotels, and 45 units in a campus and hostel setup.
- Marina and Waterfront: A state-of-the-art marina with over 150 moorings, complemented by a yacht club and public bathing areas, enhancing maritime activities and tourism.
- Commercial and Recreational Spaces: More than 1,000 commercial units, shopping centers, and cultural venues, including a church and citadel, fostering a vibrant community atmosphere.
- Green Spaces: Approximately 140,800 square meters dedicated to greenery, including the 28,400 square meter St. Nicholas’ Park, promoting environmental sustainability and leisure.
- Architectural Highlights: Distinctive structures such as the star-shaped Hotel Zvizda, the organically designed Hotel Ameba, and traditional-style villas like the Gromače and Mandrači, reflecting local architectural heritage .
Development and Investment
The project is managed by CHR Eko-Projekt d.o.o., a Croatian entity wholly owned by CHR Eko-Projekt SA of Switzerland. With over 40 years of experience in real estate development, the leadership team, including Chairman Jean-Paul Uldry and Executive Director Jerome Mariethoz, ensures strategic oversight and execution.
In a significant financial milestone, Swiss Financiers Inc. secured a $150 million investment from Calfin International, serving as an anchor pre-IPO investor for CHR Corporation. This investment underscores confidence in the Nikola Project’s potential and supports CHR Corporation’s plans to go public, facilitating further development and expansion .
Cultural and Environmental Significance
Situated near two UNESCO World Heritage Sites—the Cathedral of St. James and the St. Nicholas Fortress—the Nikola Project is designed to complement and enhance the region’s cultural landscape. Emphasizing sustainable development, the project includes an environmental protection zone, ensuring the preservation of the area’s natural beauty and ecological balance.
For more detailed information and updates on the Nikola Project, you can visit the official websites:
