Varaždin lawyer Oleg Uskoković is known for his investments in various businesses outside of legal work, and according to his latest business moves, it seems he has seriously entered the wood sector. Uskoković has invested in the Austrian holding Variso (holding a 25 percent stake), which in February of this year first acquired Drvoproizvod from Jastrebarsko, and at the beginning of March, a majority stake of 79 percent in Pan parketa from Čačinac.
Then, at the beginning of August, Pan parket purchased a majority share package (of 70.77 percent) of the Čabar company Finvest Corp from the previous majority owners Denis Fudurić (53.08 percent) and Silvijo Galić (17.69 percent). This is part of a broader story, says Uskoković, in which they aim to connect domestic wood industries, with Pan parket being the main player.
He tells us that several other companies are interested in ownership connections, which could soon materialize with some of them. The Variso holding was established in Austria for practical reasons, says Uskoković, as these acquisitions in the wood industry are temporarily supported by Austrian financial institutions, which significantly accelerates the processes.
– However, the ultimate goal is for innovative, promising, and successful companies from the domestic wood industry to unite under the majority ownership of Croatian individuals and legal entities – says Uskoković, whose appearance for Lider is a very rare occurrence in the media, and perhaps the first in which he speaks more extensively about his business ventures.
Someone who knows the domestic market
In addition to Variso, Uskoković has invested in Auctor Holding, established in 2019, which is the majority owner of Medika, the largest wholesale pharmacy in Croatia, and PrimaPharma, the largest pharmacy chain in Croatia, but this company also invests in tourism – it owns HTP Korčula and HTP Orebić, Hotel Njivice, and a camping resort on the island of Krk.
– At the end of last year, the acquisition of a hotel in Makarska was successfully completed, in which we invested 52 million euros for its renovation. This is the first five-star hotel in Makarska, and this year it opened its doors to guests under the name Aminess Khalani Beach Hotel. For now, we have more than 5,100 accommodation units in our hotels and camps, and we plan further expansion and acquisitions in that area – says Uskoković.
He continues to practice law, and he has invested his own money in the aforementioned businesses. His partners, he tells us, recognized him as someone who knows the domestic market and is willing to share the risk of their investments. He attributes all this to his specialization in corporate and commercial law and finance during his long legal practice.
– Over the past twenty years, I have provided legal support for many acquisitions, mergers, divisions, and recapitalizations, investments, and restructurings, and I have long known that I want to be a participant from another perspective, not just a legal one. A turning point was my acquaintance and later partnership with American manager John Alma, former CEO of Coca-Cola and a member of the Board of Directors of Kimberly Clark Corporation.
After retirement, he decided to invest in several areas, including Croatia, where he was interested in investments in several tourism and real estate projects. During my collaboration with him, I realized that I am extremely interested in the world of investments and that I have something to offer based on my experience – says Uskoković.
Real Estate and Tourism
Uskoković is not the only lawyer who has invested in other businesses. Among the more notable are Zagreb lawyers Miroslav Plišo, who bought a house in Istria about twenty years ago that became the Meneghetti Wine Hotel & Winery resort, and Anto Nobilo, who has significantly entered the real estate business and is a co-owner of 78,000 square meters of land in three locations in Zagreb, where large construction projects are planned.
Many other lawyers invest excess capital in real estate and tourism, and some have chosen similar areas and become bankruptcy administrators.
Read more about the experiences of lawyers in business in the new printed and digital edition of Lider.
