Corporate news

Extension of deadlines for due diligence process and submitting binding offers in the recapitalization process

At its meeting of 5 July 2017, Petrokemija's Supervisory Board gave its consent to the Management Board for the due diligence analyses of Petrokemija d.d. and opening of the data room in accordance with the established data lists and previously-signed Non Disclosure Agreements. The due diligence analysis was planned to be conducted in the period from 10 July  to 15 August 2017.

Following the completion of the in-depth analyses of business, all interested investors were invited to submit their binding bids, in accordance with the Restructuring Program of Petrokemija d.d. - Concretization of proposal of the restructuring concept  by recapitalization with a private investor, which is an integral part of the documentation in the due diligence process, by 1 September 2017.

As some of the potential investors requested the extension of the deadlines for the due diligence process, the Management Board, with the prior consent of the Supervisory Board, adopted the Decision on announcement of deadline prolongation of Petrokemija's due diligence procedure by 31 August 2017, and that of submitting binding bids in the recapitalization process by 22 September 2017.

This change of deadlines was published on the websites of ZSE, Petrokemija d.d., CERP, HANFA and Hina.

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