Wiener Boerse AG, the Vienna Stock exchange (VSE) operator, should buy the outstanding shares of its counterpart Ljubljana Stock Exchange (LJSE), Austrian news agency APA reported quoting Slovenian business paper Finance on October 1, 2008.
According to the paper, Slovenian Agency on Securities market (ATVP) will force VSE to launch a takeover offer for the remaining shareholders in LJSE, in which the Austrians already hold 81%. As it was announced yesterday, the Slovenian competition watchdog gave a green light for the takeover of the 81%. However the official decision will be sent to the interested parties in the next week.
The transaction is to be completed before the new law for takeovers comes into force, so VSE will have to buy the outstanding shares, ATVP chief Damjan Zugelj told Finance. VSE, on the other hand, refused to comment on the matter, as it has not received official Information from Ljubljana yet.
According to media reports, the Austrians have offered EUR 1.401 (USD 1.98) per share for the 81% stake, which equals to a total purchase price of EUR 37.6 million. According to Finance, the same price per share should be offered also to the outstanding stockholders.
The Slovenian banks and brokers, who are holding shares in LJSE, are waiting for a takeover offer, the paper wrote. Slovenian brokerage house Publikum expects that VSE will act in accordance with the law and will make an offer.
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