Business News

Intereuropa Looking for Partner in Russia Investment

Koper, 06 December (STA) - Logistics group Intereuropa has confirmed it is looking for a strategic partner for its Russian subsidiary Intereuropa-East which is in charge of the company's controversial logistics hub in Russia.

Business daily Finance reported on Monday that Intereuropa was selling the Cehov logistics hub, with chief supervisor Bruno Korelic explaining that the company needed the money to meet obligations to banks.

Representatives of Intereuropa explained for the STA that these amounted to EUR 182.6m at the end of September this year.

While unofficial estimates value the Cehov terminal at around EUR 60m, Korelic and the company's management refused to comment on how much they were expecting to get.

The Cehov hub was the most controversial project of Intereuropa in recent years, with the initially planned investment of EUR 60m more than doubling.

The current management is suing the former team, led by Peter Lovsin, for EUR 40m in connection with the investment.

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