Divjak Topic Bahtijarevic & Krka and Tus & Grzic have advised Prvo Plinarsko Drustvo and INA, respectively, on the sale of their stakes in joint-venture company Terra Mineral Fertilizer to the Yildirim Group. CMS advised the Yildirim Group.
According to DTB, TMF is the largest shareholder of the only Croatian fertilizer company – Petrokemija. “The majority stake in Petrokemija has been sold to Turkish conglomerate Yildirim Group, and the completion of the transaction is subject to customary approvals of regulators in several jurisdictions.”
Prvo Plinarsko Drustvo is a subsidiary of Croatian private company ENNA.
INA is a Croatian multinational oil company, with the Hungarian Mol Group and the Croatian government as its biggest shareholders.
In 2018, DTB advised PPD on the initial acquisition of a stake in Petrokemija (as reported by CEE Legal Matters on November 1, 2018), together with INA, through their joint-venture company TMF.
DTB’s team included Senior Partners Damir Topic and Mario Krka, Attorneys at Law Dina Salapic, Andrej Zmikic, and Ana-Marija Sunko, and Associates Lorena Micik and Andrija Duvnjak.
The CMS team included Croatia-based Partner Marija Zrno Prosic, Attorney at Law Mario Vrdoljak, and Senior Associate Karmen Sinozic, Istanbul-based Partners Done Yalcin and Alaz Eker Undar and Associate Taner Elmas, as well as Austria-based Partner Dieter Zandler.
The Tus & Grzic team was led by Senior Partner Tomislav Tus.