February 15 (SeeNews) - Macedonian lender Komercijalna Banka [MSE:KMB] said on Thursday it has sold a business complex to local food company Vitaminka [MSE:VITA] for 7.3 million euro ($8.9 million).
Komercijalna Banka came into possession of the complex after its previous owner, Macedonian edible oil maker Brilliant, could not repay its outstanding debt to the lender, Komercijalna Banka said in a bourse filing.
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Earlier this week, Vitaminka said it plans to finance the acquisition through a 5.3 million euro loan from Komercijalna Banka.
Vitaminka specialises in production of chocolate confectionery and crisp snacks. The company exports over 45% of its output primarily to Serbia, Croatia, Bosnia and Herzegovina, Slovenia, Kosovo, Australia, and the U.S.
($=0.8154 euro)
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