The call for bids for KAD's 5.25% stake and SOD's 19.8% stake in the company was published in early January, with the minimum bidding price set at EUR 59.9m.

The two funds retained a controlling share in 2007 when they sold almost 30% in Splošna plovba to German shipping magnate Peter Döhle, who now holds 49.65% of the Portorož-based company.

Under the 2007 purchase contract, KAD and SOD may sell their remaining share to Döhle by the end of 2012 under the same conditions, but the funds decided to put the stake for sale to test the market for better bids.