Zagreb-based Erste Card Club Ltd. (ECC) has acquired full (100%) ownership of companies Diners Club International Belgrade Ltd. and Skopje-based Diners Club International Mak d.o.o.e.l., while it has also indirectly taken over companies Diners Club International Montenegro Ltd., from Podgorica, and Belgrade’s DC Travel. Approvals were previously obtained from the competent regulatory bodies and formal legal requirements have been fulfilled relating to the contract on the sale of business shares between Luxembourg-based SKB Capital S.A. and ECC, signed in November 2016.
With this move, ECC has officially taken over the exclusive right to issue and accept Diners Club cards, thereby assuming responsibility for the further development of the Diners Club brand and the future of its operations in Serbia, Macedonia and Montenegro. The transfer of the licenses and entrusting of development on these markets to ECC received the approval and endorsement of Diners Club International, as the franchisor.
“We are pleased that the completion of the transaction has been realised successfully, and that it has happened within the deadline announced upon the signing of the contract in November last year, which further confirms the seriousness of our intentions. Now we can dedicate ourselves entirely to achieving our main goal, and that is the further development of Diners Club operations on the markets of Serbia, Macedonia and Montenegro, and ensuring the provision of top services to clients,” said Marija Radonić, Deputy President of the Management Board of ECC, responsible for regional operations.
“Our developed business model and successful operations on markets, not only the Croatian one, but also those of Slovenia, Bosnia-Herzegovina, Hungary, Bulgaria and Romania, where we have been present since an earlier period, represent a strong guarantee of our determination and dedication to achieving these goals, in accordance with the strategy of further strengthening our regional presence on the territory of Southeast Europe,” concluded Radonić.