Croatian oil company INA said that, together with gas company Prvo Plinarsko Drustvo (PPD), it has signed a deal on the sale of their joint venture Terra Mineralna Gnojiva, which owns a majority stake in mineral fertilizer producer Petrokemija, to Turkish holding company Yildirim.
Terra Mineralna Gnojiva acquired 54.517 % stake in Petrokemija in 2018 through a 40 million euros capital increase.
The statement from INA said that the change of ownership and the completion of this process will occur after the conditions from the sales contract are met.
In January 2022, Yildirim has submitted the sole binding bid for the acquisition of Petrokemija. Later, in February, Petrokemija’s shareholders decided to delist the company’s shares from the Zagreb Stock Exchange.