Croatia's M SAN completes acquisition of Slovenia's Alterna
ZAGREB (Croatia), November 16 (SeeNews) - Croatian IT equipment and consumer electronics distributor and producer M SAN [ZSE:3MSA] said that it has wrapped up the acquisition of 100% ownership of Slovenian distributor of IT equipment, accessories and consumables Alterna Distribucija.
The deal was finalised on November 15 upon fulfillment of all conditions precedent and approval of the transaction by the Slovenian competition protection agency, M SAN said in a press release on Tuesday.
“The next step is the integration of the business processes of Alterna Distribucija into the operations of M SAN Grupa, which will be implemented during the first half of 2023,” it added, without disclosing the value of the deal.
In December, M SAN said it submitted a binding offer for the purchase of Ljubljana-based Alterna, a leading Slovenian value-added distributor with a sales revenue of 21.4 million euro ($22.3 million) in 2020.
M San Grupa includes an integrator and software developer division, an e-commerce arm, online financial services division, a farming unit and a real estate arm. It had more than 600 employees at the end of last year.
M San Grupa has a bond issue maturing in 2026 which is listed on the Zagreb bourse.