Robert Krasić helps his nephew Luka Ivančić in a ‘self-sufficient’ project

The day after the Zagreb company Prave nekretnine, founded and owned by Luka Ivančić, the grandson of the chief state auditor Šime Krasić, won the public auction at the Commercial Court in Karlovac with a bid of 16.8 million kuna for the purchase of the Cotton Industry Duga Resa in bankruptcy, public interest in this latest case of privatization has increased.

Among other things, during the hours-long public auction, the quiet and reserved man with a mysterious expression, who did not leave the side of the 20-year-old young ‘investor’ Luka Ivančić, mostly responded to journalists’ questions directed at Luka Ivančić with ‘we have no comment for now, you will be informed in due time’ and similar evasions regarding previous references and plans concerning Cotton. This man is actually Robert Krasić, the son of Šime Krasić, and thus Luka’s uncle, who, as a graduate economist and seasoned businessman, came to assist his nephew in his alleged ‘self-sufficient’ project. Interestingly, Robert Krasić was once the director of the textile factory Galeb in Omiš, which acted as a counter-bidder at this, as well as at the previous, later canceled public auction, in the capacity of founder of the consortium Textile Finishing Center together with Zagreb’s Jadran of Vinko Barišić and Unitas of Ivo Bedalov.

In addition to being mentioned as the owner of Radio-oluja, a veteran radio station in Knin, Krasić is currently employed as a consultant for commercial and financial operations at the Zagreb Fair. Unlike the silent members of the Krasić family, entrepreneur Stjepan Pavić, owner of the Austrian company Glastex, who had previously been in business and creditor relations with the Cotton Industry based on the supply of cotton yarn, stated that he is involved in the takeover of Cotton through Prave nekretnine and that he will meet the conditions from the tender related to the continuation of textile activities. We did not receive an answer from Pavić as to why he did not directly come forward, but a possible answer was provided through a comment by Vinko Barišić from Jadran. In his opinion, Pavić did not come forward directly because he lacks the financial background for it, but will rely on the financial support of Prave nekretnine, and Barišić did not want to comment on where they would get such money.

– What I am convinced of, knowing all of them, is that everything in Cotton will fail in their hands, because none of them, nor all together, are capable of tackling this project. This time we withdrew earlier, at a lower amount than at the first auction because we know that the entire value of everything being sold is even lower than it was then, and it was not on our minds to bid maybe up to 25 million kuna for an asset that will require a tremendous amount of investment. And I think they are not aware of that at this moment, just as the hydroelectric power plant of Cotton, which is an objective value, is not sufficient by itself to successfully recover and develop textile production in the Cotton Industry in Duga Resa without a proper plan and knowledge, said Barišić.

Višnja Pavlić, the commissioner of the TOKG Union in the Cotton Industry, stated that after the debacle with the already bid amount of 19.7 million kuna, which was offered by Kontex owner Josip Martišković in the first auction, after this second auction ‘they are cautious’, and that they will closely monitor the situation until the bid amount is paid, and that considering all the events surrounding the Croatian textile industry, she does not want to plan anything until she sees the money deposited in the account.  (Mladen Volarić)