Saif Alketbi, an investor from the United Arab Emirates, has confirmed in an interview with the Jutarnji List daily that he has acquired a 43% stake in the Dutch holding company Fortenova Group from the Moscow-based Sberbank in line with EU laws and before the set deadline.

In the interview with reporter Gojko Drljaca, published in the Jutarnji List daily issue of Tuesday, the businessman offered assurances that he would honour all legal obligations and standards to complete the acquisition.

I prefer not to comment on speculation that makes no sense but I was surprised by the hostility shown by the management and would have preferred a more constructive approach on its part. We have a lot of work to do together in the best interests of the company, considering the conditions on financial markets, Alketbi said.

Asked how much he has paid for the stake in Fortenova Group, the businessman said that it was a private investment and would stay confidential.

I believe Fortenova is an attractive asset and that it offers huge opportunities for growth and preservation of capital but with a right strategy, he said, noting that the issue of Russian involvement in the capital structure was well-known and that it had just been resolved, which was why he was surprised by the negative reaction of some of the actors in Croatia.

The company can now focus on growth, he said, noting that he can help attract international capital and secure access to new markets.

Alketbi expressed confidence that no sanctions had been violated in the transaction and that all legal obligations had been honoured, expressing confidence that he would be able to register his stakes.

I and my group are not under the sanctions. We will continue to comply with all relevant laws and regulations in the EU. I have full trust in the EU’s legal system and can see its strong commitment to respect to the rule of law and relevant bilateral and multilateral investment agreements.

I am confident we will not be asked to withdraw, Alketbi said, noting that he was prepared to take all necessary legal steps to protect his investment and rights.

I would rather we focused on business growth and creation of value for our communities and stakeholders in Croatia and the broader region, the investor said, confident that Fortenova is a Croatian gem and he an opportunity for a fresh start.