Serbian businessman to buy Kras after all: Croats betrayed each other, sold workers' shares?

Photo: Promo

Nebojsa Saranovic, an entrepreneur who, it had seemed, dropped out of the game to acquire Croatian food company Kras, got a new chance to become the Balkan king of confectionery. According to the Croatian printed press, the Serb is definitely taking over the company.

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Allegedly, Saranovic will carry out a complete buyout of the shares owned by the Pivac brothers at the beginning of the year.

Thus, thanks to a workaround, Kras will after all become a part of Saranovic's business empire.

The most significant change in this is the decision of the Pivac brothers to sell their own and the workers' shares to the Serb entrepreneur.

The workers, who previously owned those shares, accepted a 18% cheaper offer from the Pivac brothers instead of the better one formally offered by the Cyprus based company Kappa Star Limited, a minority owner of Kras. Kappa Star Limited is owned by Nebojsa Saranovic, who at the time accused the management of Kras ESOP and MI Braca Pivac (Pivac Brothers Meat Industry) of staging "synchronized activities."

The news that Kras ESOP had sold all its shares to the Pivac brothers' meat processing copany hit the region like a thunderbolt. At the time, Nebojsa Saranovic's company commented for our portal:

"Since the beginning, we were warned about synchronized action of the Pivac Meat Industry and Kras ESOP, so this development fully confirms such speculations. That synchronized action is formally confirmed by the signing of the contract. As we have said many times, we are ready to be an active minority shareholder in Kras, whose activities will be focused on the well-being of the company and the workers," Saranovic's Kappa Star Limited said.

Whose will be the next move in this saga, and what will that move be?

(Telegraf Biznis)