Divjak, Topic & Bahtijarevic has advised Prvo Plinarsko Drustvo on its October 31, 2018 investment, made along with Croatia's state-owned oil company INA, into the Capital Increase Agreement of regional fertilizer manufacturer Petrokemija.
Petrokemija is a Croatian chemical company which specializes in manufacturing agricultural fertilizers. It was founded in 1968 as a branch of INA. In the late 1990s it was privatized and in 1998 it was incorporated as an independent joint stock company and listed on the Zagreb Stock Exchange.
The transaction was carried out via INA’s and PPD’s joint venture company Terra Mineralna Gnojiva d.d. The two companies paid an aggregate amount of HRK 300 million (approximately EUR 40 million) for 30 million shares of Petrokemija, thereby replacing the Croatian State as majority owners of Petrokemija, holding more than 50% of the share capital and control over the company.
The Divjak, Topic & Bahtijarevic team was led by Senior Partner Damir Topic and Senior Associate Daniela Marasovic. The firm's team provided advise regarding joint venture, state aid, capital markets, merger approvals, takeover rules and environmental law.