(E) Agrokor - Croatian food company acquire Serbian Frikom
Distributed by CroatianWorld
Croatia's Agrokor to acquire Frikom
Belgrade, Feb 18, 2003 - Croatian food company Agrokor will sign a privatizationagreement with Belgrade-based ice cream and frozen food producer Frikom and the Serbian government allowing it to acquire a 55.49 percent stake in Frikom.
Agrokor placed the best offer, Minister of Economy and Privatization Aleksandar Vlahovic told a press conference.
The Croatian company offered €11 million for the 55.49% stake in Frikom, around €18 million in investments, plus another &euro:18 million for a social welfare programme, said SerbianPrivatization Agency head Mirko Cvetkovic. Agrokor also pledged to absorb Frikom's €13 million debt.
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