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Energia Naturalis Ups Stake in Croatian Port Operator

Energia Naturalis (ENNA), a Croatian energy, infrastructure and logistics company, has acquired an additional stake in compatriot port operator Luka Ploce. 

After submitting a takeover bid earlier this year, ENNA has now purchased a total of 43,947 shares or a 10.39 percent stake in Luka Ploce, according to a stock exchange filing issued by the company.

As informed, ENNA paid HRK 412 (USD 61.8 million) per each share.

As a result, ENNA has increased its Luka Ploce stake to 36.11 percent.

In the port of Ploce, ENNA and its partner VTTI are developing a petroleum products terminal, the Adriatic Tank Terminal (ATT). The first stage of the construction of the facility was completed in 2016, adding 50,000 cbm capacity for clean petroleum products. The second phase of the project will deliver over 200,000 cbm of petroleum storage as well as up to 60,000 cbm of LPG storage.

In July, Luka Ploce released its financial report for the first half of 2019, reporting a surge in its net income to HRK 10.9 million from HRK 1.1 million seen in the corresponding period a year earlier. For the remainder of the year, the port expects a negative impact on its results caused by the production halt of Bosnia’s financially-troubled aluminium producer Aluminij Mostar.

Luka Ploce has seven terminals, including those for bulk, general and container cargo.

World Maritime News Staff