By signing the Articles of Association for the establishment of a joint company between Plinacro and HEP, the trading company LNG Croatia was established today in Zagreb.
In the business building of Plinacro in Zagreb, the Articles of Association for the establishment of a joint company between Plinacro d.o.o. and HEP d.d. were signed, thereby formally establishing the trading company LNG Croatia d.o.o. The Articles of Association were signed by the CEO of Plinacro, Jerko Jelić Balta, and the CEO of HEP, Leo Begović, who also constitute the Assembly of the Company LNG Croatia d.o.o. At the same time, Goran Frančić, the director of the Development Sector of Plinacro d.o.o., was appointed as the CEO of the newly established trading company LNG Croatia d.o.o., and Dubravko Lukačević, a member of the Management Board of HEP d.d., was appointed as a member of the Management Board, as stated in the announcement.
In accordance with the recommendation of the Government of the Republic of Croatia, the companies Plinacro d.o.o. and HEP d.d. have prepared and agreed on the contract for the establishment of the joint company LNG Croatia d.o.o., which is expected to take over an 11% stake in the Adria LNG consortium, with each partner participating in an equal share of 50:50 within the joint company. Since both companies have already completed the necessary procedures (decisions of the Management Boards, approvals of the Supervisory Boards, and Assemblies of the Companies), the signing of the Articles of Association today has fulfilled all necessary conditions for the registration of the newly established trading company with the Commercial Court. In the meantime, the partners in the joint company – Plinacro d.o.o. and HEP d.d. – confirmed their readiness to begin negotiations for entry into the consortium by sending a joint letter to the Adria LNG consortium, thereby operationally initiating the process of including the company LNG Croatia d.o.o. into the Adria LNG consortium.
