Droga Kolinska
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Istrabenz, d.d., and Atlantic Grupa, d.d., signed the Agreement
Istrabenz, d.d., and Atlantic Grupa, d.d., signed the Agreement on the sale of a capital share held by Istrabenz in Droga Kolinska, d.d.
Istrabenz Holding Company, d.d. informed us that the Istrabenz Holding Company, d.d. and the Croatian companyAtlantic Grupa, d.d. signed on 30 June 2010 the Agreement on the sale of a capital share held by Istrabenz in the company Droga Kolinska, d.d.
The sale and purchase agreement results from a competitive sale process which has seen many offers from a wide range of investors. In order to preserve the Company and provide a stable basis for its further development, Istrabenz, d.d. decided to sell Droga Kolinska, d.d. to the strategic partner as a single entity. Atlantic Grupa emerged as a winning bidder and the agreed value of Droga Kolinska amounts to 382m€. The company Istrabenz will receive the purchase price, corresponding to the value of Droga Kolinska, reduced by the amount of the net financial debt of Droga Kolinska, on the transaction closing date. The sale is expected to close before the year-end and the purchase price will be paid in cash.
Slobodan Vučićević, President of the Management Board of Droga Kolinska d.d., stated: »We are satisfied with the signed agreement. We believe that the reputable brands of Droga Kolinska, now held by a new owner, are in good hands and will be granted the possibility of further development and wider internationalisation«.
