January 20 (SeeNews) - The Slovenian Sovereign Holding (SSH), the company representing the state's ownership interest in more than fifty companies, is not negotiating the sale of its stake in tourism holding Sava Group, it said on Thursday, denying media reports about the potential sale of its shareholding to Hungary's Diofa Asset Management.
SSH is considering several scenarios for the future of Sava but a formal procedure for the sale or purchase of a stake in the tourist holding company is not currently underway, SSH said.
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On Wednesday, Slovenian media reported that Luxembourg-based York Global Finance Offshore BDH is in talks for the sale of its 43.2% shareholdings in Sava to Diofa Asset Management and speculated that SSH may also sell its 18.7% stake to the Hungarian asset management company.
SSH does not have official information on the sale activities of other shareholders in Sava and denies the information published in the media that it is considering selling its stake to the Hungarian fund, the state-owned holding company said.
Earlier this month, public broadcaster RTV reported that SSH plans to examine the possibility for the sale of its 4.25% stake in Telekom Slovenije [LJE:TLSG] and 18.7% stake in Sava Group in 2022.
In the first half of 2021, SSH held non-binding talks on the acquisition of York's stake in Sava, the holding company said on Thursday. The talks stalled because the parties did not agree on the terms of the deal and because the situation in the industry was very uncertain, SSH added.
SSH concluded last year a supplement to the agreement on the rescheduling of receivables from Sava, whereby the refinancing of financial liabilities was extended until June 30, 2022, to maintain the stability of the group. Sava's financial liabilities to SSH stood at 22.4 million euro ($25.4 million) at the end of 2020, according to the latest available data.
($ = 0.88209 euro)