Vienna Capital Partners takes stake in Tankerska

The investment company has acquired a 60 per cent stake in Croatian shipping company Tankerska, the largest private equity transaction in the region to date.

Vienna Capital Partners (VCP) has acquired a 60 per cent stake in the Croatian-based shipping company Tankerska Plovidba. The deal values Tankerska at E170m including bank debt.

Tankerska, which is quoted on the Varazdin stock exchange, is an independent tanker shipping company in the Mediterranean region. Companies including Exxon, Shell BP and OMV charter the Tankerska’s fleet. It has 19 crude oil and dry bulk vessels with a total capacity of 1.1m dead weight tons (DWT).

VCP and its partners have been a minority shareholder in Tankerska since 1997. In line with the Croatian takeover code, VCP will announce a public takeover bid to acquire all outstanding shares within the next seven days.

Mr Heinrich Pecina, senior partner of VCP, said: “This acquisition, the largest private equity transaction in Croatia to date, is in line with VCP’s regional focus and the strong potential it sees in Tankerska whose reliable and well-trained staff operate a modern and well maintained fleet.

VCP is a privately owned Austrian investment house, whose activities focus on corporate finance and private equity investments in Central Europe.