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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Wright Reports

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ISTRABENZ dd Completes Sale and Transfer of 51% Interest in Instalacija doo to Petrol dd

Tuesday, 12 Feb 2013 03:10am EST 

ISTRABENZ dd announced that basing on the agreement concerning sale and transfer of 51% stake in Instalacija doo, on February 11, 2013, Petrol dd settled to ISTRABENZ dd also the second part of the purchase price, totalling EUR 26 million plus accrued interest. Simultaneously, the transfer of (remaining) 22.95% interest in Instalacija doo was accomplished. The agreement was signed on September 23, 2011. The purchase price for the entire interest in Instalacija doo amounting to EUR 57.8 million, plus accrued interest, was settled in two instalments. Namely, the first execution of the agreement was accomplished on January 30, 2012 and referred to the payment of the first part of the purchase price in the amount of EUR 31.8 million and to the transfer of the 28.05% interest in Instalacija doo whereas the second part of agreement was executed on February 11, 2013. 

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