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Croatia's M SAN signs deal to take over Slovenia's Alterna

Author Annie Tsoneva
Croatia's M SAN signs deal to take over Slovenia's Alterna maxuser/Shutterstock.com

ZAGREB (Croatia), May 13 (SeeNews) - Croatian IT equipment and consumer electronics distributor and producer M SAN [ZSE:3MSA] said on Friday that it signed a deal for the acquisition of 100% ownership of Slovenian distributor of IT equipment, accessories and consumables Alterna Distribucija.

After obtaining the approval of the competent competition protection agencies, it will be possible to start fulfilling the remaining contractual conditions required for the completion of the transaction, which is expected to take place in the second half of this year, M SAN said in a filing with the Zagreb Stock Exchange.

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It did not disclose the value of the deal.

In December, M SAN said it submitted a binding offer for the purchase of Ljubljana-based Alterna, a leading Slovenian value-added distributor with a sales revenue of 21.4 million euro ($22.2 million) in 2020.

M San Grupa includes an integrator and software developer division, an e-commerce arm, online financial services division, a farming unit and a real estate arm. It had more than 600 employees at the end of last year. M San Grupa has a bond issue maturing in 2026 which is listed on the Zagreb bourse.

($= 0.965 euro)

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