07/25/2011 CORPORATE

Atlantic Grupa and Agrokor sell their shareholdings in RTL Hrvatska


Agrokor and Atlantic Grupa, each as individual owner of 13 percent of shares of RTL Hrvatska, announced today that they have reached an agreement with RTL Group which is to acquire their respective shareholdings in the Croatian broadcasting operation.

In 2003 Agrokor and Atlantic Grupa became a part of the consortium of Croatian companies and RTL Group which won the bid for the national television concession. Companies within the consortium had a goal to, in cooperation with one of the largest media companies in Europe with vast experience and knowledge in media business, generate modern competition and bring about new quality to the Croatian media market, which RTL Croatia succeeded in doing through its systematic trendsetting and leading position.

Agrokor and Atlantic Grupa have decided to leave the ownership structure of RTL Hrvatska as part of a framework of long-term focus on their core businesses. Representatives from both companies will retain their positions in the Supervisory board of RTL Hrvatska, and Atlantic Grupa will keep the symbolic ownership of 0.01% of the television’s shares.