Horizonte announced today the sale of its stake in BRIGO Invest GmbH. Through its 100% subsidiary BRIGO Invest d.o.o. the company operates a production plant for brown coal briquettes in Banovici, Bosnia and Herzegovina. The stake was sold to EPS Lastro d.o.o., a leading producer of styropor products in Bosnia and Herzegovina, for an undisclosed price.
"After having successfully completed the start of operations of the greenfield investment into a state-of-the-art coal production plant BRIGO Invest will be developed further with the support of EPS Lastro d.o.o., a company which has already demonstrated its capability to successfully develop a business in Bosnia & Herzegovina in the long-term. BRIGO Invest is one of the examples where foreign investments have turned into long-term value added for the Bosnian economy while also creating an attractive double digit return for investors", says Mag. Martin Wodak, Horizonte Partner.