Podravka.jpg
Photograph: FaH/ ik

The Croatian food company Podravka has signed a deal with Slovenia's Radenska beverages producer on the sale of its Lipicki Studenac soft drinks factory, with Kofola CeskoSlovensko acting as the guarantor, Podravka said in a statement on Tuesday without stating the value of the deal.

Radenska will acquire a 100% interest in Lipicki Studenac by the end of the year, upon fulfillment of contract terms.

The transaction is not expected to have a negative effect on Podravka Group's business results this year and it will have a positive impact on its profitability in the coming period, according to the statement.

The Koprivnica-based company says that after selling its beverages business, it will continue developing its food and drugs portfolio with emphasis on foreign sales.

By selling Lipicki Studenac to Radenska, a reputable regional producer of non-alcoholic beverages and water and member of Kofola Group, Podravka has shown that it cares about the continuation of production at Lipicki Studenac and about its workers' job security, the company says, adding that workers' acquired rights will not be changed for a period of 18 months.

Related stories

Bridge opposes privatisation of strategic companies

Podravka food company attends FHC China trade show

Latest news

Mosque attended by Berlin attacker Amri closed, police confirm

The mosque in Berlin attended by Berlin truck attacker Anis Amri has been closed. The mosque is permanently closed, read a note in German and Turkish on the door of the prayer rooms which was seen on Tuesday.

German army to expand to almost 200,000 soldiers

Germany's Bundeswehr, plans to expand its number of professional soldier to 198,000 by 2024 because of increasing duties, the German Defence Ministry announced on Tuesday.

Fired Audi engineer says he was 'sacrificed' for emissions scandal

A fired Audi engineer was "sacrificed" amid the ongoing VW group diesel emissions scandal, his lawyer claimed in court on Tuesday as he contested his client's dismissal.

French police arrest three over suspected terror plans, source says

French authorities have arrested three men in relation to suspected plans to carry out attacks in the country or travel to Syria, a source close to the investigation told dpa on Tuesday.

UN: Trial against Gaddafi regime was unfair, flawed

Former members of the Gaddafi regime did not get a fair trial in Libya because the proceedings were so seriously compromised, the United Nations criticized in a report on Monday.

Croatia remains Bosnia's biggest trade partner in 2016

Croatia is still the most important foreign trade partner to Bosnia and Herzegovina, according to figures released by the BiH Chamber of Foreign Trade which show that in 2016 the two countries' trade had gone up.

Red Cross: Bodies of 74 migrants wash ashore in Libya

The bodies of 74 migrants washed ashore in Libya, in the north-western city of Zawiya, a spokesman of the International Federation of Red Cross and Red Crescent Societies (IFRC) said Tuesday.

Ancelotti makes charity donation after middle finger gesture

Bayern Munich coach Carlo Ancelotti has agreed to donate 5,000 euros (5,200 dollars) to a charity run by the German football federation DFB following his middle finger gesture towards Hertha Berlin fans.

Azerbaijan's long-time leader Aliyev appoints wife as vice president

The long-time president of the oil-rich, Caspian Sea nation of Azerbaijan, Ilham Aliyev, appointed his wife, Mehriban Aliyeva, as vice president on Tuesday.

HSBC reports 62-per-cent fall in annual profit, blames one-off costs

Banking giant HSBC on Tuesday reported a 62-per-cent fall in its annual profit last year, blaming losses incurred from the sale of HSBC Bank Brazil and other one-off costs.

Le Pen quits meeting with Lebanon's Sunni cleric over headscarf row

France's far-right presidential candidate Marine Le Pen walked away from a meeting on Tuesday with Lebanon's senior Muslim Sunni cleric after she refused to wear a headscarf.

Podravka revenues up 15 pct, profit up 54 pct

The Podravka Group that operates in two main business segments: food and pharmaceuticals, generated a net profit in 2016 of HRK 182.4 million, which is 54.7% more than in 2015 without taking into account the one-off effect of consolidating the Zito company or deferred tax returns of Belupo in 2015, according to the company'y unaudited financial statements released on Tuesday.

Chinese prefecture requires all cars to install tracking devices

A prefecture in China’s troubled north-western province of Xinjiang is requiring all vehicles to install satellite tracking devices, a move that comes just weeks after authorities warned against cars being used for terrorist attacks.

Rohingya activist urges companies to stop investing in Myanmar

Foreign companies need to stop investing in Myanmar in order to stop the country's discrimination against its Muslim minority Rohingya, a prominent Myanmar activist said Tuesday.

ASEAN concerned about militarization in disputed South China Sea

South-East Asian countries are concerned about growing militarization in the disputed South China Sea and stressed the need for dialogue to ease tensions, the Philippines’ foreign minister said Tuesday.