Croatian Koncar acquires 49% of Napredna Energetska Rjesenja
Croatian electrical equipment manufacturer Koncar Elektroindustrija agreed to accept an offer by Malta's Construction Line Limited to buy a business share corresponding to 49 percent of the equity capital of joint venture Napredna Energetska Rjesenja (Advanced Energy Solutions) that owns 75.16 percent of the shares of Croatian power transmission equipment manufacturer Dalekovod.
"In line with Koncar Group strategy of consolidating ownership and acquiring control to fully integrate Dalekovod Group into Koncar Group, and recognizing Koncar's primary role as a strategic investor seeking to leverage the synergies between the two groups, we hereby inform that the offer issued by Construction Line Limited to purchase a business share in the limited liability company Advanced Energy Solutions has been accepted," Koncar said.
The transaction is subject to approval by market competition authorities. The deal was not diclosed.
Thus, Koncar’s unit Koncar - Investments Ltd. will become sole owner of Advanced Energy Solutions.