Ljubljana – Slovenia Sovereign Holding (SSH) published a takeover bid for spa operator Terme Olimia on Friday, offering EUR 27.50 per share for a total of just over 158,000 shares. The offer stands until 10 May unless extended, according to the bid published in the newspaper Delo.
The move comes nearly a month after the SSH published a letter of intent on its own behalf and the behalf of other state-owned companies acting in coordination with the holding.
The state already holds shares in Terme Olimija through state-run fund Kapitalska Družba, rail operator Slovenske Železnice and the Bank Assets Management Company. The bid applies to the all the remaining shares not owned by the state.
The move is another step in the plan to create the State Hospitality Fund, which is to be comprised of three subsidiaries operating hotels on the coast, in the Alps and thermal spas.
It is to bring together Terme Olimia, Sava Turizem, Istrabenz Turizem, Thermana, Adria Ankaran, Hit Alpinea and the tourism branch of Hit casino operator.