Atlantic Group acquires Strauss Adria and other business news

The State Statistics Office (RZS) has published new data, which show that national GDP growth in the last quarter of 2023 was driven by agriculture and construction, while retail sales in Serbia slowed after the holiday boom.

Here are other important business news this week:

  1. Atlantic Group acquires Strauss Adria – Croatian company Atlantic Group has acquired Strauss Adriatic. The transaction, following which Atlantic will become the owner of Serbian brands such as Doncafe and C coffee, will be finalized today. The acquisition is worth 40.5 million euros and was provisionally approved by the Serbia Commission for Protection of Competition. The condition for the final approval of the acquisition is that Atlantic will have to sell one of its newly acquired coffee factories in Serbia.
  2. Buyer of an 11% stake in Lasta transport company anonymous – Data from the Central Register of Securities show that the Belgrade government did sell its 11% share in the Lasta transport company, but the data does not make it clear who the buyer is because the number of shares increased only in one collective account. According to the said data, this account increased its share in Lasta from 4.34 to 15.82 percent. The third biggest shareholder in Lasta is the Serbian government with 13.78.
  3. NIS to invest 95 million euros in overhaul of its oil refinery – Last year, the Petroleum Industry of Serbia (NIS) announced the overhaul of the Pančevo Oil Refinery, and now it has been specified how much the overhaul itself will cost. As stated in the company’s announcement, the overhaul, which will last from February 29 to April 17, will cost 95 million euros.

(Bloomberg Adria, 01.03.2024)

This post is also available in: Italiano

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