Siemens Energy acquires 40 % of Končar – Transformer Tanks
Strategic partnership strengthens transformer tank production in Croatia.
Image for illustration purposes
Croatia, Zagreb: Croatian electrical equipment manufacturer Končar announced that Siemens Energy Holding B.V. has acquired a 40 % stake in the newly formed joint venture, Končar – Transformer Tanks.
“All conditions defined by the previously signed agreement have been fulfilled, finalising the transaction on 31 March 2025,” Končar stated in a filing to the Zagreb Stock Exchange.
Končar had initially revealed plans for the joint venture in July 2024, confirming that it would retain a 60 % majority stake. The manufacturing facility will be based at Končar’s Sesvetski Kraljevec site near Zagreb.
Earlier this month, Končar also disclosed that, as part of the agreement, they have begun restructuring its subsidiary Metal Structure by transferring transformer tank production to the newly created entity, Končar – Transformer Tanks.
On 1 April 2025, Končar’s shares were trading 1.27 % lower at $503 (€466) on the Zagreb Stock Exchange.
Source: SeeNews
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