Istrabenz: We're not blocking Delta

Slovenian company Istrabenz has denied reports in the Serbian media that it is “blocking” Delta again in that country. Istrabenz say that they have sold their 12.56 percent share in Mercator to Infond Holding, while no decision has been taken over Delta’s offer to buy a 28.3 percent stake in Istrabenz itself, according to the Slovenian company. Istrabenz: We're not blocking Delta Contrary to earlier reports, Delta Holding did not offer to buy a stake in Mercator, but rather a 28.23 percent stake in Istrabenz itself, and the offer still stands. Delta made its offer to the Slovenian company on June 13, and on September 3 that offer was extended until September 30. Prior to Delta, the first offer for Istrabenz's state-owned stake came from Slovenian Infond Holding, the owner of Pivovarna Lasko, one of the biggest stakeholders in Mercator, along with Istrabenz. In addition to the offers from Infold and Delta, Slovenian para-state funds SOD and KAD, who own the said 28.23 percent stake in Istrabenz, also received offers from the Slovenian chain Tus, owned by Mirko Tus, and from the Kranj investment fund, owned by one of Slovenia’s wealthiest men, Joze Anderlic. Meanwhile,on September 5, Istrabenz sold half of its stake in Mercator – 12.56 percent - to Infond Holdings. As a result, Infond, who already had a 12.44 percent stake in Mercator, now owns 24.90 percent of the company, and so is just short of the legally stipulated 25 percent plus one share limit, which commits the owner to submitting a take-over offer. The very next day, September 6, Infond withdrew its offer for Istrabenz’s state-owned stake, which meant that only Delta, Tus, and the Kranj investment fund were left in the running. The future owner of the 28.23 percent Istrabenz holding will be legally obliged to make an offer to take over the whole company. The Slovenian para-state funds have not yet decided whose offer to accept.

Istrabenz: We're not blocking Delta

Contrary to earlier reports, Delta Holding did not offer to buy a stake in Mercator, but rather a 28.23 percent stake in Istrabenz itself, and the offer still stands.

Delta made its offer to the Slovenian company on June 13, and on September 3 that offer was extended until September 30.

Prior to Delta, the first offer for Istrabenz's state-owned stake came from Slovenian Infond Holding, the owner of Pivovarna Laško, one of the biggest stakeholders in Mercator, along with Istrabenz.

In addition to the offers from Infold and Delta, Slovenian para-state funds SOD and KAD, who own the said 28.23 percent stake in Istrabenz, also received offers from the Slovenian chain Tuš, owned by Mirko Tuš, and from the Kranj investment fund, owned by one of Slovenia’s wealthiest men, Jože Anderlič.

Meanwhile,on September 5, Istrabenz sold half of its stake in Mercator – 12.56 percent - to Infond Holdings. As a result, Infond, who already had a 12.44 percent stake in Mercator, now owns 24.90 percent of the company, and so is just short of the legally stipulated 25 percent plus one share limit, which commits the owner to submitting a take-over offer.

The very next day, September 6, Infond withdrew its offer for Istrabenz’s state-owned stake, which meant that only Delta, Tuš, and the Kranj investment fund were left in the running.

The future owner of the 28.23 percent Istrabenz holding will be legally obliged to make an offer to take over the whole company. The Slovenian para-state funds have not yet decided whose offer to accept.