Business News

ATVP Freezes Voting Rights of State-Owned Companies in Krka

Ljubljana, 12 April (STA) - The Securities Market Agency (ATVP) has frozen the voting rights of six state-owned companies that together hold a 27.48% stake in pharma company Krka, because they failed to announce a takeover bid or keep their combined share below the controlling stake of 25% plus one share, the agency said on Thursday.

According to the ATVP, the state-run funds SOD and KAD hold 14.99% and 9.86% in the Novo mesto-based drug maker, respectively, port operator Luka Koper 1.22% and insurer Zavarovalnica Triglav 1.39%.

KBM Fineko, a subsidiary of Slovenia's No 2 bank NKBM, and airport operator Aerodrom Ljubljana both hold less than 0.1% of Krka stock.

The ATVP will keep the voting rights of the state-owned companies frozen until they announce a takeover bid or sell their shares to bring their stake to below 25%.

Krka will hold its annual general meeting on 7 July.

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