Nothing will come of the sale of Pevex as only one non-binding offer was received for the company, but since it is not appropriate, it will not be considered, said Mario Radić, one of the co-owners of Pevex, for Hina.
On Friday, the deadline for submitting non-binding offers for the purchase of a majority ownership stake (53.3 percent) in the Pevex retail chain, held by Pavao Vujnovac and Mario Radić, expired.
– One non-binding offer was received, it is not adequate and will not be considered – Radić said. When asked what comes next, he replied, “we will continue to develop and invest.”
Let us recall, the initial call to interested investors was sent at the end of March through the consulting firm KPMG, which was engaged as an advisor, to about ten addresses, including Slovenian Merkur, German OBI, French Leroy Merlin, British Kingfisher, and Turkish Koc.
In early May, Pevex’s CEO Krešimir Bubalo stated that Pevex has been conducting two “due diligence” processes for several months, in which two companies on the Croatian market were being evaluated for purchase. He also said that these processes are concluding and expressed confidence that Pevex will successfully realize an acquisition in the Croatian market in the short term. He also mentioned that the management is working on the company’s development and announced that in the upcoming period they will have to prepare “for some step outside the Croatian market.”
