Croatia: Fortenova Group to purchase a 65 % stake in A.N.P. Energija21.Jan 2021.
After agreeing to acquire a 26 % interest in the energy company from local venture capital fund Prosperus FGS, Fortenova Group said that it will purchase a 39 % stake in A.N.P. Energija from local fund manager Inspire Investments.
After the two transactions, Fortenova will hold a direct 65 % stake in A.N.P. Energija alongside the indirect 35% interest that it already owns through its wholly-owned subsidiary Agrokor Energija. The financial details of the transaction were not disclosed.
According to the statement from the group, this investments will enable Fortenova to exit non-core activities in order to focus on its biogas power generation business. The acquisition of the initial 26 % was made in November 2020.
A.N.P. Energija is the sole owner of Energija Gradec, which operates five biogas power plants located in the eastern region of Slavonia and in central Croatia. The plants have a combined installed capacity of 9.8 MW and produce electricity from biomass supplied by Fortenova’s agricultural companies.