Business News


Port Operator to Offload 24.8% Stake in Intereuropa

Ljubljana, 21 December (STA) - Port operator Luka Koper plans to dispose its 24.8% stake in logistics group Intereuropa after receiving an expression of interest in the shares, the company said Tuesday.

Luka Koper, the largest single shareholder in Intereuropa, plans to publish a public call for bids for its stake in the coming days.

The company has been weighed down by its investment in Intereuropa and a write-down on the stake was the main reason for a 76% drop in net profit in the first nine months of the year.

The stake is currently worth only EUR 7.4m on the Ljubljana Stock Exchange, as Intereuropa has been one of the worst performing stocks in the recent years, dropping from a high of EUR 40 per share in early 2008 to EUR 3.8.

It is unclear what the move means for plans to set up a logistics holding, as the government has been pushing - unsuccessfully - for a tie-up between Luka Koper, Intereuropa and state-owned rail operator Slovenske zeleznice to create a powerful player in the logistics industry.

You might be also interested in:

GET IN TOUCH

We are here to help you.