The Slovenia Times

Bad bank cancels Istrabenz, Thermana sale


Ljubljana - The Bank Assets Management Company (BAMC) announced on Friday it had revoked a decision to initiate the sale of two tourism companies, Istrabenz Turizem and Thermana, citing the recent change of the national tourism strategy.

The government adopted a new seven-year tourism strategy on 11 May to stipulate that equity stakes in tourism companies in the BAMC portfolio remain in state ownership.

Before that, a different government decree was in place that allowed the sale of such assets and BAMC checked with the government twice whether this decree was still valid but had not received a reply.

"In any case, BAMC would have acted in line with valid regulations and involve its owner in the decision-making before deciding whether to accept an offer," it said.

The revelation that Istrabenz and Thermana would be sold was met with surprise even by Economy Minister Zdravko Počivalšek, who said it was a damaging solo action by BAMC.

Počivalšek has long championed creating a state-owned tourism company from the remains of once mighty tourism firms that ran aground after the financial crisis and were transferred to the bad bank.


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