The Slovenia Times

Minister Questions Sale of Peko to Croatian Company


The problem with the sale to Osimpex is insufficient guarantees, which means that in case of bankruptcy there was no guarantee on what would happen to the workers, he explained.

"Plan B is to sell Peko to another buyer, one that would give us better guarantees," Stepišnik said, adding that the issue had not been on the government's agenda today.

The government will focus on the Peko case in the future, he said, admitting that time was of the essence.

Peko CEO Janez Sajovic told the STA that the company needed fresh funds immediately or else it would face bankruptcy. "Peko is already insolvent. We can maybe wait a few more days and make some arrangements with the Tax Administration but then there will be nothing left to do," he warned.

Sajovic said he did not care who was Peko's owner as long as they provided the necessary funds for the company to continue its operations.

Peko has no time for a new search for a strategic partner, the CEO said, adding that the disruptions in production due to uncertainty about the company's future were causing huge financial damage to the company on a daily basis.

He also warned that Osimpex could probably sue the state if the sales agreement was annulled.

Osimpex, a company specializing in metal wholesale, said on Tuesday that it had been notified a day earlier by the commission in charge of the Peko sale that it was the best bidder.

Today, it expressed surprise over the statements of "the representatives of the Slovenian state indicating that the public sales procedure of Peko could turn out to be a fraud, unworthy of an EU member state".

"Osimpex has dedicated more than nine months of serious work to the preparations for entering Peko," the company pointed out.

The assessments of the Slovenian government representatives on "insufficient" guarantees are "completely inappropriate", according to Osimpex.

The company implied that such estimates might reflect the interests of individuals from Slovenia and abroad to bring Peko to bankruptcy and then buy its real estate at a lower price and without the "burden" of having to keep production and Peko's brand.

Osimpex also regrets that the "demanding but fair negotiations" came to a point where the parties communicate through media.

Peko owners - the state, the state-run DSU fund and banks Gorenjska banka and SKB banka, which are together selling their 100% share in Peko - signed a contract on the sale with Osimpex at the end of March.

The supervisory boards, managements and CEOs of all owners have already given their consent to the deal, but the consent of the National Assembly, which must authorise the sale of DSU's stake, has still not been obtained.

The DSU urged on Tuesday the Finance Ministry to issue the consent as soon as possible, but the ministry did not wish to comment on when the government or the National Assembly would decide on the matter.

The DSU noted that Osimpex's offer would expire on 30 April.


More from Nekategorizirano