The Slovenia Times

Govt suspends sale of Istrabenz hotels

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The deadline for binding bids for Istrabenz Turizem, the owner of six hotels in Portoro┼ż which has overdue liabilities to the Bank Assets Management Company (BAMC), the bad bank, would have expired next week.

As the BAMC's sole shareholder, the government thus tasked it on Thursday with seizing Istrabenz Tourism's shares which the company used as collateral for its loans.

In negotiating loan rescheduling, Istrabenz's loans were divided into two parts, and Istrabenz should have repaid the first batch already last year.

The BAMC was also tasked with setting up a special company onto which it would transfer the shares, the government said in a release after its weekly session.

This would facilitate the shares' transfer onto the emerging holding which would manage state-owned tourist companies.

Today's decision is part of the government's plan to consolidate the tourist sector in line with the 2017-2021 strategy on sustainable growth of Slovenian tourism.

According to a recent report in Delo, the holding would consist of Istrabenz, Sava Turizem, Hoteli Bernardin, HIT, Thermana, Terme Olimia, Adria Turisti─Źno Podjetje and Unitur.

The companies would be managed by state asset custodian Slovenian Sovereign Holding (SSH).

But in order for SSH to purchase all these companies, the ownership of which is rather dispersed, the government would supply it with fresh capital, reportedly to the tune of 90 million euro, according to Delo.

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