Turkey’s Yildirim to become majority owner of Croatia’s Petrokemija

ZAGREB (Croatia), November 11 (SeeNews) – Croatian oil and gas company INA said that, together with local gas company Prvo Plinarsko Drustvo (PPD), it has signed a deal to sell their joint venture Terra Mineralna Gnojiva, which owns a majority stake in mineral fertiliser producer Petrokemija, to Turkish holding company Yildirim.

“The process of changing the ownership of Terra Mineralna Gnojiva company, which holds a 54.52% stake in Petrokemija, began with the signing of the share purchase agreement with the Turkish Yildirim Group,“ INA said in a filing to the Zagreb bourse published after the end of the trading session on Thursday.

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The change of ownership and the completion of this process will occur after the conditions from the sales contract are met, it added without elaborating.

Terra Mineralna Gnojiva acquired a 54.52% interest in Petrokemija in 2018 through a capital increase of 300 million kuna ($41 million/40 million euro), it was reported realier.

The shareholders of Petrokemija decided to delist the company’s shares from the Zagreb bourse in February.

INA’s shares last traded on Thursday ending flat at 3,460 kuna.

(1 euro = 7.545 Croatian kuna)

INA-Industrija Nafte d.d. is among the biggest companies in SEE, for more reference take a look at Top 100 companies