An important change in the ownership structure has occurred at Kraš. According to data submitted to the Zagreb Stock Exchange and Hanfa, Miljenko Pivac has acquired 33.33 percent of the shares in the Meat Industry Braća Pivac from his mother Veronika Pivac, based on a contract for the transfer of business shares concluded at the end of November. This indirectly gives him control over a stake of 826,426 shares in Kraš, representing 51.15 percent of the voting rights in the largest Croatian confectionery manufacturer, while Veronika Pivac simultaneously lost the same stake indirectly.
The Meat Industry Braća Pivac, which holds 55.15 percent of the shares in Kraš, still retains the majority package, but the family ownership structure of that stake is changing. Miljenko’s return to ownership relations comes less than a year after he transferred his stake to his mother at the beginning of 2024, following his arrest in the EPPO investigation related to Čakovec’s Vajda.
Settlement and Conclusion of Criminal Proceedings
Miljenko Pivac agreed to a settlement with the European Public Prosecutor’s Office in October regarding the subsidy fraud case in Vajda. He pleaded guilty and was sentenced to a fine of one and a half million euros and eleven months in prison, which were replaced with community service.
Other members of the management and supervisory board of Vajda were also punished, while the company itself, which has already returned the unlawfully obtained benefit, was additionally sanctioned with 1.5 million euros. After the settlement, the criminal proceedings were closed, allowing Miljenko to formally return to the ownership structures of family companies without legal obstacles.
