The Emirati businessman Saif Al-Qutaibi purchased 43% of the Croatian Fortenova Group from the Russian Bank of Spearbank.
Spearbank claims that Al-Qutaibi owns properties and businesses engaged in cutting-edge technology, and that its investments depend on a variety of business ventures and private funding.
One of the top Croatian businesses in the production and food trade, Fortenova Group is headquartered in Zagarb, the nation’s capital.
2019 saw Serbank Conglomerate purchase 40% of the assets of Fortenova Group Topco, a member of the Fortenova Group group and the largest food trade company in Croatia. Fortenova Group Topco is operated by Agrokor.
By purchasing 4% of the company’s shares in the spring of 2021, Spearbank increased his ownership in the Croatian retailer Fortenova to 34%, compared to 18.5% of the shares held by the Mercator Group, which is thought to be the largest retailer in Slovenia.
Due to debts, the Croatian government began reorganising the Fortenova Group in April 2017. Spearbank attempted to purchase 1.13 billion euros from the group’s obligations at the same time.
Origin: Tas.
For an Emirati investor, Spearbank trades his stake in the Croatian Fortenova Group.
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