April 24 (SeeNews) - Croatian investment firm Agram Invest has divested of a recently acquired 9.8% stake in agricultural group Vupik [ZSE:VPIK-R-A] and 6.5% in food company Belje [ZSE:BLJE-R-A], both parts of highly indebted concern Agrokor, Vupik and Belje said on Monday.
Agram Invest has let go of 475,000 ordinary shares in Vupik and 2,996,779 shares in Belje, the companies members of Agrokor said in separate filings with the Zagreb Stock Exchange.
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Following the divestment, Agram no longer has holdings in Vupik, while retaining a 7.3% stake in Belje.
In another bourse filing, Agrokor's food retailer and wholesaler Zitnjak [ZSE:ZTNJ-R-A] said that Agram has exited the company, letting go of an 8% stake.
The share price of all three units of Agrokor has suffered over the past few months due to serious financial troubles in Croatia's largest private concern.
At 16:31 CET on Monday, Vupik's share price rose 4.32%, while Belje's dropped 1.53%. Zitnjak's share price fell 13.75% on April 19, when the stock was last traded.