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People & Business :: M&A

Turkish Firm Buys Croatian Petchems Trader

11:18 AM MDT | August 27, 2012 | Natasha Alperowicz

Çali┼čkan Kömür Group (Istanbul) has signed a preliminary agreement to acquire the Adriaoil subsidiary of Croatia’s Dioki Group (Zagreb). Adriaoil (Milan) is engaged in the sales and marketing of petrochemicals and oil products, mainly on the Italian and Russian markets. Family-owned Çali┼čkan is active in mining, shipping, coal, energy, livestock, and tourism. An advance payment of €5 million ($6.5 million) from Çali┼čkan will be used to pay the monthly salaries of the idled Dioki plants in Zagreb and the Dina...

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