Grupa Azoty submits offer to takeover Croatian Petrokemija

WSE-listed, state-owned chemicals firm Grupa Azoty filed a non-binding offer to acquire a controlling stake in Croatian fertilizer producer Petrokemija. “We are currently waiting for the answer from the Croatian side,” Azoty deputy CEO Witold Szczypiński said. Petrokemija was interested in finding a minority investor. Petrokemija is ongoing a restructuring process which assumed finding a private investor. According to local media, other potential investors include Croatian Ina, Pro Plinarsko Drustwo, HEP, Janaf, pension funds, as well as Czech Agrofert, and Austrian Borealis. This is Azoty’s second attempt to buy the Croatian peer, first, unsuccessful one was back in 2013.