GAS BUSINESS: PPD Acquires Adria Transport Expanding into Croatian Railway Market
The Vukovar-based natural gas trader Prvo Plinarsko Drustvo (PPD) acquired a majority stake in the railway company, Adria Transport. Local media reported that Adria Transport would be integrated into the PPD Group under the name “PPD Transport“. The value of the transaction was not disclosed.
Founded and headed by Slovak Mario Matas, Adria Transport is the only privately-owned railway company that provides cargo transportation on the market presently dominated by the state-owned Croatian Railways (HZ) Cargo. Oliver Krilic will remain the company’s Managing Director. As part of the PPD group, Krilic said they would be able to transport larger amounts of cargo to customers, enabling them to maintain stable business operations in the future.
Headed by Pavao Vujnovac, PPD’s core business is the import, sale, and distribution of natural gas. The group’s other services include electricity trade, selling ICT solutions to energy companies, etc…