ENERGY: Crodux Interested in Acquiring Dioki and Dina Petrokemija

Crodux Natural Gas, owned by former army general Ivan Cermak, recently acquired a network of 62 petrol stations in Croatia from Austrian OMV.  He also confirmed his interest in acquiring the petrochemical manufacturers Dina Petrokemija (island of Krk) and Dioki Petrokemija (Zagreb).

Both companies are experiencing financial difficulties, due to corruption cases against its owner Robert Jezic who is a personal friend of Finance Minister Slavko Linic (SDP).  Last week, the Turkish company Caliskan has pulled out as a strategic investor in Dina, after activating a 2012 €5 million state guarantee to start production.

Originally, Linic facilitated the arrangement with Caliskan, but is now stating that they will sue the company for a return of the state guaranteed funds.  He has also publicly supported Cermak’s interest in Dina and Dioki.

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