December 29 (SeeNews) - Croatian IT equipment and consumer electronics distributor and producer M San Grupa said on Wednesday it applied to the commercial court in Zagreb for a merger of its wholly-owned subsidiary M SAN Ulaganja.
“This merger is expected to achieve greater efficiency in the preparation and implementation of business digitalisation and automation of business processes at M SAN Grupa,” M SAN Grupa said in a filing with the Zagreb bourse.
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M SAN Grupa will become the universal legal successor to M SAN Ulaganja, a company active in the development and maintenance of reporting tools assisting decision making processes.
Earlier this month, M San Grupa said its consolidated pre-tax profit fell 8.8% year-on-year in the first nine months of 2021, to 18.4 million kuna ($2.8 million/2.4 million euro) wheresas its operating revenue rose 14.5% on the year, reaching 1.5 billion kuna.
(1 euro = 7.522 Croatian kuna)