Croatia's Koncar D&ST raises stake in Ferokotao to 51%

Koncar D&ST did not disclose the value of the deal and the names of the sellers.

Koncar D&ST said that by the getting the majority stake in Ferokotao, it has secured its supply of transformer tanks, thus enhancing its competitive edge.

The ongoing green transition in European Union countries has generated significant demand for transformers, with transformer tanks being a crucial element in transformer manufacturing, Koncar D&ST added.

Privately-owned Ferokotao is based in Donji Kraljevec, in northwestern Croatia, and produces transformer tanks for distribution, power and special transformers.

The ordinary shares of Koncar D&ST traded 0.58% higher at 860 euro ($933) on the Zagreb bourse by 1050 local time on Thursday.

($ = 0.945 euro)