December 23 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] said its unit Koncar - Aparati i Postrojenja d.d. will acquire the group's subsidiary Koncar - Niskonaponske Sklopke i Prekidaci d.o.o under a merger agreement signed last month.
The merger, part of the restructuring process taking place in the Koncar group, is expected to have a positive effect on the group's profitability in the coming period, Koncar said in a statement earlier this week.
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As part of the transaction, Koncar - Aparati i Postrojenja will increase the capital of Koncar - Niskonaponske Sklopke i Prekidaci in order to complete its acquisition.
Koncar Elektroindustrija is a member of the Zagreb bourse's blue-chip CROBEX10 index. They last traded on December 21, closing 1.72% higher at 590 kuna ($95/78 euro).
(1 euro = 7.53919 kuna)