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DTB Advises PPD on JV Acquisition of Control of Petrokemija

DTB Advises PPD on JV Acquisition of Control of Petrokemija

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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. 

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Čipčić-Bragadin Mesić & Associates is one of the leading law firms in Croatia that serve companies, credit & financial institutions and public entities. We have been recommended and recognized as the legal experts and service leaders by many leading international legal guides for more than 15 consecutive years. With roots dating from 1928. we now probably have more tradition, experience and market presence than almost any other law firm in Croatia. We work closely with the leading international law firms and consultants so we’re able to manage complex, cross-border projects and deals seamlessly and successfully. Around 85% of our clients are international enterprises doing business in Croatia. List of our clients include some of the world-renowned companies such as Amazon Europe Core, China Machinery Engineering Corporation, Tate & Lyle, Nafta a.s., Unilever Croatia, Unilever Hungary, Lenovo, Innoenergy CE, Flixmobility, Flixbus CEE South, Okoenergie Group, CTC Holding, Bunge Limited, Chipita, Rolls-Royce, Canvas Holidays, Vacalianselect, Redgate Software, Red gate Investment, Yahoo!, Aston Martin Lagonda, Domino Printing UK, Domino Printing Sciences, Goldman Sachs, Deutsche Bank, Barclays Bank, HSBC, State Street Bank, Citigroup Global Markets, Credit Suisse, Bank of America Merill Lynch, Standard Chartered, Och-Ziff Capital Management, Amundi Asset Management, Altima International, Red Arc Global Investments, SMBC Nikko Capital Partners, Royal Bank of Scotland, Morgan Stanley International, J.P. Morgan group, Allianz Global Investors, Schroders, Macquarie Bank, Digital Finance International, Winton Capital Management, Citibank, Invesco Asset Management Österreich, Croatian Pension Investment Company, Unicredit Bank AG etc. We enjoy learning about our clients’ businesses and want to understand them completely so we can provide the best possible and complete service.

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