Business News

Watchdog Says State Violating Takeover Law at Aerodrom Ljubljana

Ljubljana, 14 December (STA) - The Securities Market Agency (ATVP) has frozen the voting rights of state-run funds SOD and KAD and majority state-owned insurer Zavarovalnica Triglav in airport operator Aerodrom Ljubljana, as it established that they were acting in a coordinated fashion and are together exceeding the takeover threshold.

The securities market watchdog said on Friday that SOD, KAD, Zavarovalnica Triglav, the state and state-owned port operator Luka Koper acted in a coordinated fashion. Moreover Triglav, SOD, KAD and the state are exceeding the takeover threshold, together holding 69.12% of shares with voting right.

The ATVP has frozen the voting rights of Triglav, SOD, KAD and the state until they publish together with Luka Koper a takeover bid or lower their stakeholding below the takeover threshold.

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