Croatia's Koncar takes over Telenerg - Inzenjering

"This acquisition will expand the portfolio of services offered in the field of design, supervision, construction, testing and commissioning of complete power plants of low, middle and high voltage, as well as comprehensive power solutions for the production, transmission and distribution of electricity, which will enable Koncar to further reinforce its position in both the domestic and foreign markets," Koncar said in a filing to the Zagreb bourse.

The value of the deal was not disclosed.

According to data from the Croatian court registry, Telenerg – Inzenjering has been owned by local company for production and design of equipment in for the electricity sector Telenerg.

Koncar's shares closed 0.57% lower at 865 kuna ($122/115 euro) on Wednesday, the last trading day of the Zagreb Stock Exchange in 2022 before the adoption of the euro currency in Croatia on January 1 next year.

(1 euro = 7.536 kuna)