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People & Business :: M&A

Swiss Firm Bids for Two Subsidiaries of Croatia's Dioki

1:10 PM MDT | July 25, 2012 | Ian Young

Petrochemicals and polymers producer Dioki Group (Zagreb, Croatia) says it has received a €20-million ($24.3 million) bid from United Energy Commodities (UEC; Geneva) to buy majority stakes in Dioki's Dina Petrokemija and Adriaoil subsidiaries. Dioki, in a filing with the Zagreb Stock Exchange, also says that Croatia's finance ministry has granted a request for state guarantees on a €5-million transfer from UEC—included in the €20-million bid—that would be used to pay outstanding wages of Dioki and Dina Petrokemija workers...

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