After, as reported by Jutarnji.hr, according to reliable information, at the beginning of the year they chose the Polish branch of JP Morgan as a consultant, and then engaged another advisory firm, in September the ‘exit’ of the Polish private equity fund Enterprise Fund VII from the retail chain Studenac was supposed to begin.
However, since so far none of the existing retail chains operating in Croatia has shown interest in acquiring Studenac and the exit of the same Polish fund from Intersport has not been realized, Jutarnji states that those well-informed about this process estimate that a formal exit process of Enterprise Fund VII from Studenac will not be initiated, but that talks with potential investors will continue. Only when they have several or at least one serious expressed interest will the formal exit process begin. They will seek investors among alternative investors.
Michaeł Kędzia, a partner at Enterprise Investors responsible for Studenac, briefly commented for Jutarnji that they currently have no plans to exit the ownership structure of Studenac.
– We are very satisfied with the current business and focused on further business growth – said Kędzia.
Due to the engagement of JP Morgan for consulting services, private equity funds, some retail chains from the east or even from Asia, and someone for whom the trade in food products is not ‘core business’ are again mentioned as potential investors, concluding that there will not be a large exit, but rather they will wait for the expression of interest from some new players in the market.
