Croatian drugstore "Kozmo" sold to fund "Nexus Alpha"

"Konzum", a member of consortium "Agrokor", sold its 100% share in drugstores "Kozmo" to investment fund "Nexus Alpha" on the last day of year 2009.

People from consortium "Agrokor", owned by Ivica Todorić, said that they were not going to reveal the information on the value of the transaction to the public, but the change in the ownership structure has already been confirmed to the Zagreb Stock Exchange.

Possible reason for sale, which could have been heard in October 2009, is the fact that "Kozmo", with its 42 stores, is unable to keep the pace with the competition such as drugstores DM, which has 117 stores in Croatia.

By the way, "Nexus Private Equity Partners" is the open-ended investment funds management company, and that company runs "Nexus Alpha" fund, which was founded in October 2008.

The fund currently has 254.5m HRK (36m EUR) at its disposal, while the aim is that the fund's total investment potential reaches 50m EUR.