Croatia's Agrokor buys Serbia's M-Profil SPV

Serbia's Commission for the Protection of Competition has given Croatia's Agrokor the green light to take over the M-Profil SPV company operating in an industrial zone in Stara Pazova.

People at Agrokor have confirmed this transaction and explained that they will buy a storage space they have been renting so far, adding that it is more cost-effective for them to purchase it than to pay the rent, the web portal Poslovni.hr has reported.

According to the data provided by the Business Registers Agency, M-Profil SPV is 100-percent owned by Zdravko Valec, former owner of Zabok-based M-Profil, which is in bankruptcy since July 2011.

M-Profil was engaged in the production of steel structures, roof and facade panels, and the company's annual revenues amounted up to EUR 65 million until few years ago, when this company had over 500 employees.