Business News

Privatisation of Airport Operator Launched

Ljubljana, 22 October (STA) - The privatisation of airport operator Aerodrom Ljubljana has been officially launched as shareholders holding 73.34% of the stock have signed a shareholder agreement and the state-run SOD fund has started the selection of a financial adviser.

The shareholder agreement was signed by the state, the state-funds KAD and SOD, the majority state-owned insurer Zavarovalnica Triglav and fund managers KD Skladi and NFD, SOD said Tuesday.

The selection of a financial adviser is to be completed by the end of November. SOD said the goal would be to find an investor that would secure "successful long-term development of the company".

The state is the single biggest shareholder of the operator of the Jože Pučnik Airport Ljubljana, owning a controlling 50.67% stake.

Aerodrom Ljubljana is on the list of 15 companies slated for privatisation in a bid to secure fresh budget revenue to buttress fiscal consolidation.

Media reports suggest that the operator of the nearby Venice and Treviso airports, SAVE S.p.A., is interested in acquiring the company.

But CEO Zmago Skobir has been rooting for Fraport, the operator of Frankfurt airport, fearing that Ljubljana would be left behind if it is acquired by SAVE.

The company reported H1 of EUR 14.84m, up almost 2% over the year before. Net profit was up 50.3% to EUR 2.98m.

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