ZAGREB, Dec 17 (Hina) - The Dresdner Kleinwort Benson bank has invested six million US dollars in a Croatian company 'Iskon Internet', which provides users with Internet services. In this way Dresdner Kleinwort Benson has obtained a
significant portion in the capital of this Croatian firm, Internet Iskon representatives said at a news conference last week.
ZAGREB, Dec 17 (Hina) - The Dresdner Kleinwort Benson bank has
invested six million US dollars in a Croatian company 'Iskon
Internet', which provides users with Internet services.
In this way Dresdner Kleinwort Benson has obtained a significant
portion in the capital of this Croatian firm, Internet Iskon
representatives said at a news conference last week.#L#
The investment was carried out via Dresdner Kleinwort Benson -
Private Equity's Europe Emerging Fund which supports fast-growing
companies in central Europe.
Iskon Internet Director Damir Sabol said the investment would help
this firm to enlarge its capacities and introduce new Internet
contents and services, particularly in the commercial field
offering solutions for the e-commerce in Croatia.
Dresdner Kleinwort Benson Private Equity regional director for
central and eastern Europe, Vijal Gill, expressed satisfaction
with this new strategic partnership. Gill said this investment was
at the right moment and at the right place and in the right company,
in view of the fact that Croatia had recently been admitted into the
World Trade Organisation (WTO) and was coming closer to the
European Union.
Gill described Iskon Internet as the exact example of a rapidly
growing company, which is proved by the fact that there are now
29,6000 users (or a 30-percent annual climb).
The new investment means a new ownership structure, which is now
divided between American investors and Dresdner Kleinwort Benson
as well as investments of Iskon on its own, Gill explained adding
that 10 percent of shares had been offered to employees with the
introduction of a new business strategy.
This investment was the second in 2000. In April, Adriatic Net
Investors invested five (5) million dollars in Iskon Internet thus
taking over 51 percent of the firm.
Commenting on the latest investment, the chairman of the Iskon
Internet supervisory board and of the Adriatic Net Investors
management, Gavin M. Susman stressed the Croatian firm could be
happy to have such investors and added that the previous five
million dollars were used in the development of the national net and
in the marketing.
(hina) ms