It's worth noting that the investors in the fund are the Croatian Government itself, with a share of 50 percent through HBOR, pension funds and other institutional investors, which make up the remaining 50 percent. Spacva fulfilled the plans and expectations of the fund and is a good example of achieving the role of funds when engaged in economic cooperation,'' said Davor Doric. In the meantime, investments in technology have been made in excess of 150 million kuna, which has enabled the company to grow significantly and raise its operational efficiencies. Since Quaestus joined Spacva, revenue has increased significantly to around 250 million kuna, and the number of employees has increased from 570 to 850.
All obligations from the settlement were properly settled within the agreed deadline. Just before the first investment, in 2013, Spacva entered into a pre-bankruptcy settlement with its creditors. ''Quaestus has invested in Spacva on two occasions, once in 2013 and then again back 2017.
The latter is the owner of four million shares, which is a 75.81 percent stake in Drvna industrija Spacva, and the letter stated that this was to be the last year of the fund's participation and that actions regarding the exit from ownership and the sale of Spacva's shares had begun.ĭavor Doric, a member of the Management Board of Quaestus Private Equity, didn't want to comment on the process of exiting the fund because, as he says, these are sensitive processes. As Novac/Jozo Vrdoljak writes on the 23rd of November, 2020, back in mid-October, Spacva, an Eastern Croatian company from Vinkovci, received a letter from Quaestus Private Equity Capital.
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