The Croatian concern Agrokor and the TDR tobacco company, which is owned by British American Tobacco (BAT), on Wednesday closed a deal whereby Agrokor sold to TDR a 16% ownership share in its news stand company Tisak, Agrokor has reported.
TDR has thus acquired 381,854 shares in the Tisak company, which is equal to 16 percent of voting rights.
Considering the fact that BAT is the sole owner of TDR, it has indirectly gained these shares.
Agrokor remains Tisak's majority shareholder with a 51.34% interest while BAT has a 25.86% stake and TDR has a 16% stake.
The Agrokor concern is the largest privately held company in Croatia and one of the strongest companies in southeastern Europe. Tisak is the biggest retail news-stand chain and Croatia's leading distributor of print products, tobacco, prepaid 'top-up' cards and telecom operators' start packages and other products, Agrokor says on its website.
"Seeing that Tisak is the market leader in introducing new and innovative services and products, this transaction will facilitate additional new investments in modernisation, efficiency and greater business security," Agrokor said in a press release.