EBRD New Shareholder of Atlantic Group

Atlantic Group successfully raised 605 million kuna through a capital increase process, acquired a new shareholder structure, and welcomed the European Bank for Reconstruction and Development (EBRD) as a new shareholder, as announced at today’s press conference of the company.

After the capital increase, EBRD is the second largest shareholder of Atlantic Group, with a stake of 8.53 percent, while the German DEG holds a stake of 8.49 percent. The largest individual shareholder remains Emil Tedeschi with 50.2 percent of the shares. A total of 605 million kuna, or 84 million euros, was raised during the capital increase, as highlighted at the press conference. In the capital increase of Atlantic Group, EBRD participated with 27.58 million euros, and DEG with 10.35 million euros.
The capital increase process was conducted to raise part of the financial resources for financing the acquisition of the company Droga Kolinska, with the approval of the Supervisory Board for increasing the share capital by issuing new shares.

By involving the two most significant European development institutions in the capital increase process, Atlantic Group has confirmed its status as a stable partner that enjoys the trust of the international financial community, emphasized the company’s CEO Emil Tedeschi. He also noted that all four mandatory pension funds participated in the capital increase, which have a stake greater than 13 percent in the share structure, and there are more than 19 thousand small investors.

"We are pleased that the most relevant investors recognized Atlantic Group as a good investment opportunity, and the acquisition of Droga Kolinska as a prudent long-term development strategy for the company," Tedeschi emphasized. This acquisition has an optimal ratio of equity to debt, which allows for further investment in new technologies, new markets, and new acquisitions, he stated.

Lindsay Forbes from EBRD emphasized that Atlantic Group has earned their support, as they invested in Atlantic Group because they recognized investment in people, product development, and brands, and assessed that the acquisition of Droga Kolinska will enable further growth and development of the company. In the capital increase of Atlantic Group, 864,305 new ordinary shares with a nominal value of 40 kuna were issued, thereby increasing the company’s share capital from the previous 98.8 million kuna by an amount of 34.57 million to a total of 133.37 million kuna. The new ordinary shares were issued at a price of 700 kuna per share. The preparation of the prospectus for the listing of the newly issued shares on the Zagreb Stock Exchange is planned for September, and the listing of the newly issued shares on the Exchange will follow after the prospectus is approved by the Croatian Financial Services Supervisory Agency.  (H)