Croatia's CIAK takes over LKQ's Slovenian, Bosnian units

The transaction involving STAHLGRUBER Trgovina has been completed, while the transaction involving SIM IMPEX from Banja Luka remains subject to approval by the responsible authorities, CIAK said in a filing to the Zagreb bourse.

Financial details were not disclosed.

Ljubljana-based STAHLGRUBER Trgovina is one of the independent automotive aftermarket distributors (IAM) in Slovenia, generating annual sales of 12 million euro ($12.8 million) through its three branches, according to the press release.

Considering CIAK's core business and its established presence in Slovenia, the acquisition of STAHLGRUBER Trgovina represents the next move towards consolidating the company's position in South and Eastern Europe, CIAK said.

CIAK specialises in the distribution of car parts, car batteries and motor oils; waste management and recycling; and wholesale.

Its shares traded flat at 6.80 euro on the Zagreb bourse intraday on Tuesday.

($ = 0.940 euro)