Investing PLN 61.2 million OT Logistics acquired 2.8 million out of 7.5 million of new issue shares in Luka Rijeka d.d., a company managing the largest seaport in Croatia. The State Treasury of Croatia will control (directly or indirectly) 38 percent of interests in the entity, while OT Logistics will hold 21 percent of shares. According to Luka Rijeka d.d., nearly 31 percent of shares will be held by a few pension funds of global financial groups.

 

The Polish company is considered as a strategic investor - claims Siniša Hajdaš Dončić, the Minister of Maritime Affairs, Transport and Infrastructure. OT Logistics intends to start talks concerning close investment and operational cooperation. 

‘Acquisition of shares in the port of Rijeka constitutes an important element of the strategy followed by OT Logistics aimed at building a north-south transport corridor. Moreover, from the point of view of our Croatian partners, acquiring an industry investor was very advantageous. We can also contribute important know-how to the company. Moreover, we know that services offered by the port may be an attractive alternative for our existing clients,' says Zbigniew Nowik, Chairman of the Board of OT Logistics S.A.

 

In view of the strategic location of the port of Rijeka, its high growth potential and expansion of the Suez Canal, the port offers significant opportunities of entering new markets to clients interested in trading in goods between Europe, the Mediterranean countries and the Indian Ocean Rim.

 

Luka Rijeka d.d. , a company listed on the Zagreb Stock Exchange, operates the largest seaport in Croatia. The core business of the company comprises port services, including handling, storing and transportation of bulk cargo, general cargo, timber, cereals, livestock and fruit. The total port capacity exceeds 8 million tons (5 million tons of bulk cargo and 3.2 million tons of general cargo).

 

Moreover, Luka Rijeka holds 49 percent of shares in the container terminal with the capacity of 600 thousand TEU. In 2014 the port capacity utilization was below 25 percent and the company reported sales revenue of HRK 167.4 million (ca. PLN 93.2 million translated at the average NBP rate as of 31 December 2014). The key objective of the new issue was to carry out investment projects maximizing the utilization of port capacity. The issue value reached HRK 300 million (ca. PLN 163.7 million translated at the average NBP rate as of 29 July 2015).

 

AK