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Croatian businessman takes over Bosnian cereals processor Novi Zitopromet – media

Author Annie Tsoneva
Croatian businessman takes over Bosnian cereals processor Novi Zitopromet – media xtrekx/Shutterstock.com

ZAGREB (Croatia), November 24 (SeeNews) - Croatian businessman Enver Moralic said he agreed to buy Bosnian cereals processor Novi Zitopromet, Bosnian media reported.

"We have agreed the purchase and paid the bigger part of the price, we are still waiting to coordinate some other details but more or less everything has been agreed,” Moralic told daily Nezavisne Novine on Tuesday.

He did not elaborate on the price but the same daily reported on Monday that the price is between 3.5 million euro ($3.9 million) and 4.0 million euro.

Moralic was not immediately available to comment on the deal for SeeNews.

So far, the company's owner was Bosnian company Pavgord, which bought its immovable property for 3.1 million Bosnian marka ($1.8 million/1.6 million euro) in January.

Earlier, Pavgord bought the equipment of the milling company and paid 600,000 marka as social contributions for its employees.

The company, previously named Zitopromet, had 113 employees before it went into bankruptcy in December 2019.

Moralic has pledged to retain the company's cereals processing business and will keep most of its employees. He also owns Croatian winery Kutjevo.

(1 euro=1.955 Bosnian marka)

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