ZAGREB, June 6 (Hina) - The Bank Austria Creditanstalt, the parent company of HVB Bank Croatia, and the Podravka food industry on Thursday signed an agreement on a long-term loan worth EUR 15 million. Podravka will use the funds for
three acquisitions.
ZAGREB, June 6 (Hina) - The Bank Austria Creditanstalt, the parent
company of HVB Bank Croatia, and the Podravka food industry on
Thursday signed an agreement on a long-term loan worth EUR 15
million. Podravka will use the funds for three acquisitions. #L#
A member of Podravka's management board, Nevenka Cerovsky,
explained that six million euros would be used to purchase the
Porec-based Ital Ice company, while the rest of the funds will be
invested into two acquisitions in Central Europe which should be
completed by the end of the year.
The loan is granted with a five-year maturity and the euribor
interest rate increased by seven eighths, amounting to 5.5
percent.
The Bank Austria Creditanstalt which initiated the transaction,
functions as both the transaction agent and the insurance funds
agent.
The syndicate of banks also includes the Adria Bank, LBS Bank from
New York, Volksbank Zagreb and the Raiffeisen Landesbank in
Austria.
(hina) lml sb