Croatias Dina-Petrokemija submits proposal for pre-bankruptcy settlement.

By bne IntelliNews December 4, 2012
Croatian polyethylene producer Dina-Petrokemija submitted on Nov 30 a proposal to the relevant institutions for the commencement of pre-bankruptcy settlement procedures that would allow it unblock its accounts and resume production, its parent - petrochemical group Dioki, said in a filing with the Zagreb bourse. Dioki informed that the pre-bankruptcy settlement in line with an agreement with Turkeys Caliskan. Dioki has been in strategic partnership talks with Caliskan and in September the Turkish company paid EUR 5mn for the purchase of Diokis daughter company Adriaoil, which specialises in trade and marketing of petrochemical products and raw materials. It was initially announced that Caliskan will also buy Dina-Petrokemija.

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