February 1 (SeeNews) - Luxembourg-based York Global Finance Offshore BDH has signed an agreement for the sale of its 43% stake in Slovenian tourism group Sava to Hungary's Diofa Asset Management for 38 million euro ($43 million), local media reported on Tuesday.
The direct buyer of the stake will be a special-purpose vehicle named Prestige, Delo daily reported.
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The deal was notified to Slovenia's sovereign holding company SSH late on Monday, Delo said, adding that based on the notification, SSH will decide whether to execute its pre-emption right on the 43% stake.
Last week, economy minister Zdravko Pocivalsek said Slovenia's government is urging SSH to execute its pre-emption right and keep the tourism group in Slovenian hands.
Slovenian media reported in January that York Global Finance Offshore BDH is in talks for the sale of its shareholdings in Sava to Diofa Asset Management and speculated that SSH may also sell its 18.7% stake to the Hungarian company. The media reports prompted immediate reaction from SSH, which represents the state's ownership interest in more than fifty companies. SSH said it is not negotiating the sale of its stake in Sava Group, nor has it been notified of any talks held by York.
In the first half of 2021, SSH held non-binding talks on the acquisition of York's stake in Sava, the sovereign holding company said. The talks stalled because the parties did not agree on the terms of a deal and because the situation in the industry was very uncertain, SSH explained.
($ = 0.8829 euro)