June 9 (SeeNews) - Slovenian investment management company KS Nalozbe [LJE:KSFR] said on Tuesday it has withdrawn from talks for acquiring Ljubljana-based real estate developer Ceeref due to the current adverse conditions on the financial markets.
In February, KS Nalozbe signed a letter of intent on the planned acquisition with Luxembourg-based parent company Ceeref S.A.
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However, after obtaining the preliminary report on Ceeref's evaluation and a due diligence on the current state of the financial markets, KS Nalozbe decided on June 8 to withdraw from further talks, it said in a statement, without disclosing financial details.
KS Nalozbe's main line of business is the purchase, management and sale of shareholdings in other enterprises.