Business News

Terme Maribor Slated for Sale to Russian Investor

Ljubljana, 12 October (STA) - Terme Maribor, the Maribor-based tourism company, is to be sold to a Russian-owned company for an estimated EUR 28m, capping two years of efforts by financial holding NFD to offload its majority stake in the company, daily Dnevnik reported on Wednesday.

The shareholders of Terme Maribor will convene a general meeting on 21 October, until which time the transaction should be completed, according to the report.

NFD owns 72% of Terme Maribor and the conglomerate Sava 14.5%. The two biggest shareholders are expected to get EUR 28m for their holdings whereas buying out small shareholders would cost another EUR 4m.

Terme Maribor is to be sold to Platanus, a company incorporated in Maribor last year that is owned by Russian citizen Olga Lopayeva, Dnevnik says.

NFD, which has taken heavy losses as the economic and financial crisis wreaked havoc on its portfolio, has been trying to sell Terme Maribor for two years.

Terme Maribor is the biggest tourism company in the Maribor area. It owns multiple hotels, travel shops at border crossings and a medical centre.

It posted revenue of EUR 42.5m in 2010 and a loss of EUR 320,000.

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