April 28 (SeeNews) - Croatian oil and gas company INA and gas company Prvo Plinarsko Drustvo (PPD) have concluded the sale of their joint venture Terra Mineralna Gnojiva, majority owner of mineral fertiliser producer Petrokemija, to Turkish holding company Yildirim, INA said on Friday.
Following fulfilment of all preconditions set in the contract, the sale of Terra Mineralna Gnojiva to Yildirim Group has been successfully completed, INA said in a filing to the Zagreb bourse, without elaborating.
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The joint venture company owned by PPD and INA holds a 54.52% stake in Petrokemija. Terra Mineralna Gnojiva acquired this stake in Petrokemija in 2018 through a capital increase of 300 million kuna ($44 million/40 million euro), it was reported earlier.
INA and PPD signed the deal to sell Terra Mineralna Gnojiva to Yildirim Group in November last year.
INA's shares last traded on Thursday, ending 0.88% lower at 450 euro.
($ = 0.910 euro)
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