29.11.2019

Employee stock ownership collapses

Pivac becomes the owner of Kras

MI Braca Pivac formally became the owner of Kras this Wednesday, the 27th, after the central depository company SKDD registered the transaction. Pivac now has 49.18% of the confectionary producer and the workers who sold their shares got their money on Monday. The number of remaining employee stock-holding (ESOP) cases in Croatia is insignificant and even fewer are those companies in which workers have a say in company management as majority owners, like they did in Kras.

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