Croatia: Possible Dalekovod takeover by Koncar Elektroindustrija

, SEE Energy News

Croatian Koncar Elektroindustrija, together with the company Construction Line, submitted a conditional offer for participation in the recapitalization of the electricity transmission equipment manufacturer Dalekovod Group.

Under the offer, the restructuring of the company would include reducing its share capital to just 330,000 euros from 33 million euros to cover earlier losses, only to further increase it to up to 55 million euros by share subscriptions, cash payments and/or contributions by entering rights.

The decision on the recapitalization of the company will have to be made by the General Assembly of Dalekovod, which is scheduled for 30 June. At that Assembly, the existing Management Board of the company should be dismissed, and a discussion on the future course of restructuring and on the mentioned offer, which is the only one submitted, is also planned.

In early February, Dalekovod launched a public call for investors to express interest in potential restructuring of the company.