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Student purchases textile firm for €2.3 million
Croatian Times
An economics student has bought a Croatian textile firm.
Luka Ivancic, 20, purchased the firm Duga Resa Cotton Industry for 16.8 million kunas or 2.3 million Euros yesterday (Mon) at a public auction in Karlovac.
Ivancic competed for the company in the name of the firm "Prave nekretnine."
The Croatian media have asked where a young man obtained such a large amount of money.
Ivanic is the grandson of State Audit Office head Sima Krasic.
The daily Jutarnji list said it assumed he had acted as a front for someone else, who could be Stjepan Pavic, the head of the firm GT Glastex Handels in Klagenfurt, Austria.
The Austrian textile company has already done business with Duga Resa.
Pavic confirmed to the daily that two colleagues and he had been involved in the company’s purchase but declined to say more.
Duga Resa used to be an important textile company that employed 4,500 people. It has been bankrupt for five years, and there had been no bids for it at ten public auctions before yesterday’s.
Tag cloud Duga Glastex Sima bankrupt purchases Austria Krasic Croatian Handels Resa Audit auction textile Pavic Jutarnji Stjepan Ivancic bids employed colleagues
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