Slovenian SSH, KAD transfer payment for the purchase of a 43% stake in Sava
LJUBLJANA (Slovenia), 1 March (SeeNews) – The Slovenian state holding SSH and the manager of the state pension fund Kapitalska družba (KAD) transferred funds for the purchase of a 43.2% share of the Sava Tourist Group to the trust account of dr. Central Depository and Clearing Company, said the President of the Management Board of SSH Janez Zlak.
The Sava Group has good development potential and most stakeholders in SSH are satisfied with the decision to exercise the pre-emption right to a 43.2% stake in the Sava Tourist Group, which was sold by the Luxembourg company York Global Finance Offshore BDH together with KAD. , said Zlak in a video file published on the YouTube channel of the Slovenian news agency STA on Monday.
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SSH will pay EUR 32 million (EUR 36.3 million) for the purchase of Sava shares, and KAD EUR 6 million. Following the exercise of the pre-emption right, SSH and KAD will increase their share in Sava to 61.9% and 28.0%, respectively.
On 31 January, York signed an agreement to sell a stake in Sava Prestige Tourism, a special purpose company set up by Hungary’s Diofa Asset Management, for € 38 million. The deal was notified to SSH, which owns 18.7% of Sava’s capital.
Sava plays a key role in the Slovenian tourism sector, which generated almost 13% of the country’s gross domestic product before the COVID-19 pandemic.
($ = 0.88039 euros)