Gas distributor Prvo Plinarsko Drustvo (PPD) and oil company INA are planning to establish a joint venture company through which they would invest over 40 million euros in mineral fertilizer producer Petrokemija.
According to Croatian media, after the Government’s recapitalization plan is completed, PPD and INA will set up a joint venture that will obtain 55 % stake in Petrokemija. At the general meeting scheduled for 9 July, Petrokemija’s shareholders should vote on the coverage of the loss in 2017 in the amount of almost 33 million euros through a reduction in share capital by merging shares, from 66.8 million euros to 13.6 million euros.
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Tags: Croatia, INA, investment, Petrokemija, PPD