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Grupa Azoty mulling takeover in Croatia

15th January 2014
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Poland’s largest chemical holding Grupa Azoty is one of the bidders in the privatization process of Croatian petrochemical firm Petrokemija Kutina, local daily Večernji List wrote on Tuesday.

The Croatian government has already opened the privatization offers, the newspaper wrote. Other potential buyers for the Croatian refinery are Hungarian chemical firm Bige Holding, Austria’s Borealis and Czech agricultural and chemical holding Agrofert.

Polish media had reported last October that Grupa Azoty was interested in acquiring Petrokemija. The company then declined to comment.

The company posted losses in the last several years. Analysts estimate its value at some PLN 325 million.

Poland A.M.

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