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OT Logistics takes over Rijeka's reins

Publication date: 2017-09-20

Tags: maritime, world, poland

OT Logistics takes over Rijeka's reins

The Polish company has come to an agreement with the Croatian pension funds Allianz ZB and ERSTE, as a result taking over operational and financial control over the Rijeka port.

OT Logistics, Allianz ZB, and ERSTE hold 32.56%, 15.15%, and 8.85% of the port's shares, respectively, giving them the majority stake of 56.56%. Earlier this year, OT Logistics increased its share level by acquiring 11.75% of the Port of Rijeka's stocks.

The agreement, detailing how the parties will run the port authority, has been signed for a period of seven years.

"Thanks to increasing our own stock commitment in the Port of Rijeka Authority as well as by partnering with other shareholders, we've gained tangible influence over the port's operations. Rijeka is a very important spot on the European transport map. We believe that it could become a gateway for the flow of goods between Europe, Africa, the Middle East, and the Arabian Peninsula," Zbigniew Nowik, President of the Board, OT Logistics, said.

He then added, "Moreover, having 50% + 1 stock is still on our company's agenda."

Port of Rijeka (photo: OT Logistics)

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