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EIB to provide EUR 250m loan for Koper-Divača rail track

Monday, 18/02/2019

The European Investment Bank (EIB) has placed the project to build a new railway line between the port of Koper and Divača among the projects it would finance with loans. The state-owned company managing the project said that the EIB would provide a EUR 250m loan.

Announcing the news, 2TDK said that it had submitted the application for a EUR 250m loan to the bank last May.

"Negotiations between the EIB and 2TDK followed between October and January, on whose basis the investment bank will make a final assessment of the project and expectedly send it for confirmation by the board of governors in April."

Infrastructure Minister Alenka Bratušek, whose ministry is responsible for the project, welcomed the news, saying that the bank had recognised the quality and importance of the project.

"I'm happy that the things are moving in the right direction," the ministry quoted Bratušek, who added that the lengthy negotiations with the EIB had obviously produced a positive result.

"The decision is not final yet, but the placement on the EIB list means that the bank too has recognised the quality and importance of this project, which I believed in and expected throughout," the minister added.

In addition to government funding, the investment plan for the project also envisages loans from international financial institutions and the state-owned SID export and development bank, EU grants and loans from commercial banks.

The plan values the project at EUR 968m at current prices, but together with a reserve for unexpected works and interest the total price tag will be EUR 1.2bn.

The railway will be only 27 kilometres long, but the huge cost is attributed to the high number of tunnels and bridges on the tricky karst terrain.

(Source: www.investslovenia.org)

RJ Finance wishes you all the best in 2019!

Thursday, 03/01/2019

Company RJ Finance wishes to all its business partners and other stakeholders successful 2019!

NLB bank listed in Ljubljana and London

Monday, 03/12/2018

Ljubljana, 14 November - NLB shares were listed on the Ljubljana and London stock exchanges on Wednesday, bringing the sale of 65% of Slovenia's leading bank via an initial public offering (IPO) to an end. By selling NLB, Slovenia has partly met its commitment to the European Commission to sell 75% minus one share in exchange for a bailout in late 2013.

Ukraine's MHP seeks to acquire Perutnina Ptuj

Wednesday, 26/09/2018

The Ukrainian holding MHP has announced it is seeking to acquire Slovenia's leading food processing company, poultry group Perutnina Ptuj, currently held by the Russian-owned Slovenian steel group SIJ.

MHP issued the announcement via the communication agency Taktik after having notified the Slovenian Protection Agency of the concentration.

The release described MHP as a vertically integrated company and a leading poultry producer in Ukraine with operations in the Netherlands and Slovakia, and a sales and distribution office in the United Arab Emirates. MHP sells around 60% of its poultry products in Ukraine and around 40% to more than 60 countries across the world, the release reads.

The release notes that MHP invested some EUR 1.5bn into greenfield projects in the past decade, it also notes "a strong and experienced management team, and an integrated business model". MHP expects the acquisition will add value to the company and strengthen its position as a global player, while Perutnina Ptuj would obtain a strategic long-term investor.

"Perutnina Ptuj has a strong brand and significant share of poultry value-added products, which MHP is ready to support over the coming years through investment and further development," the release says.

MHP committed to improve the quality of Perutnina Ptuj's production base to meet the highest EU standards. It said the cooperation would bring direct benefits to local farmers and employees and would have a positive effect on the poultry industry in the Balkan region in general. According to the online edition of the newspaper Finance, MHP is owned by Ukrainian billionaire Yuriy Kosiuk, who was mentioned as a potential buyer of Perutnina Ptuj four years ago. At the time, he visited several poultry farms in Slovenia as well as Perutnina's production centres. His visit was organised by the Swiss bank UBS, which was looking for an investor to bring fresh capital to Perutnina.

Just recently, the news portal Siol reported that Perutnina Ptuj was to be acquired by the French LDC group, Europe's largest poultry company. The report said that SIJ, which acquired the poultry group three years ago, was forced into selling by its creditors, primarily the Russian state-owned bank Sberbank and individual bond buyers.

(Source: https://www.investslovenia.org)

Knauf Insulation Škofja Loka to benefit from Malaysia investment

Tuesday, 14/08/2018

Škofja Loka - Knauf, the multinational whose insulation division includes Knauf Insulation Škofja Loka, has announced the construction of a new factory in Malaysia. The investment, estimated at EUR 120m, is also expected to benefit Knauf's Slovenian subsidiary, which is responsible for sales in that part of the world.

What is more, Škofja Loka is the base of the global development team that will be responsible for the technology at Knauf's Malaysian glass wool plant, Knauf Insulation Škofja Loka director Tomaž Lanišek has told the STA.

"The additional capacities mean fresh wind in our sails and additional possibilities to increase sales and supply the buyers we've not been able to supply so far due to too much demand," Lanišek added about the plant, whose launch is scheduled for 2020.

Knauf Insulation Škofja Loka has a tradition of 60 years, having developed out of what was known as Termo before the 2006 takeover by the German firm Knauf.

It employed around 425 people at the end of last year, when it generated EUR 117m in revenue and operated with a profit.

While Lanišek is hoping for an overhaul of the company's oldest production line in Škofja Loka, which is older than 25 years, an investment is currently under way into an education centre for central and SE Europe, which is to open this autumn.  (Source: http://www.sloveniatimes.com)

Gorenje chooses Chinese megabrand Hisense as strategic partner

Monday, 14/05/2018

After receiving three binding bids from Asian companies, Slovenian home appliances maker Gorenje picked Hisense as their strategic partner. The Chinese megabrand offered 12 euros per share.

After reviewing the three binding bids, Gorenje asked two of the bidders to raise their stakes. Gorenje then opted for Hisense as their strategic partner, as the latter offered 12 euros per share. The offer is subject to a minimum acceptance condition of 50% plus one share.

Gorenje said that a team of key shareholders as well as a financial and a legal expert helped them review the bids. Three criteria were considered in the selection process: strategic elements, the feasibility of the transaction, and the price per share.

IMF significantly improves Slovenia's GDP growth forecast to 4.0% in 2018

Saturday, 14/04/2018

LJUBLJANA (Slovenia), April 17 - Slovenia's economy will expand by 4.0% in 2018, the International Monetary Fund (IMF) said on Tuesday, raising its economic growth forecast for the country from 2.5% projected in October. Slovenia's economic growth is projected to slow to 3.2% in 2019, the IMF said in the April edition of its World Economic Outlook report.

According to the lender, the country closed 2017 with a growth of 5.0%. Slovenia's average annual inflation is seen at 1.7% this year and 2.0% in 2019, following a growth of 1.4% in 2017. In October, the IMF predicted the country's consumer prices to rise 1.8% in 2018. The country's current account balance is seen at a surplus of 5.7% of GDP this year and 5.2% next year, the IMF said. Slovenia ended 2017 with a current account surplus of 6.5% of the GDP. Slovenia's unemployment rate is seen falling to 5.9% this year and further to 5.5% next year, from 6.8% in 2017. (Source: seenews.com)

Meat company Kras gets new owner

Thursday, 08/03/2018

On Wednesday, Kras, a major meat-processing company best known for its pršut air-dried ham, has been sold to Jata Emona after having run into trouble due to debt. The owner of Kras, company Brinjevka, sighned a sales contract with Jata Emona and from now on, Kras will be a new member of the Jata Group.

According to unofficial information, Jata Group has paid four million for the acquisition, the first part of the purchase price has already been transferred to Sežana. With the acquisition, the new owner sees the advantages in strengthening the group's food processing division and the differentiation of food production.

Slovenia's Gorenje gets four strategic partnership offers from Asian firms

Thursday, 08/03/2018

Slovenian white goods manufacturer Gorenje [LJE:GRVG] said it has received four non-binding offers from potential Asian strategic partners, all of them active in the household appliances industry. Gorenje will review the non-binding offers on March 13 and release the next update on the process by March 15, it said in a filing to the Ljubljana Stock Exchange. 

The company said it will not release the names of the potential partners with whom it has signed confidentiality agreements. "Following the assessment of the received non-binding offers from a strategic perspective, certain prospective partners will be invited to participate in the due diligence phase of the process," Gorenje added.

During the due diligence phase, prospective partners will be provided with additional information including access to a virtual data room of Gorenje Group, selected site visits to Gorenje Group facilities and meetings with top management. In November, Gorenje appointed Italy's Rothschild as financial advisor in its search for a strategic partner.

Gorenje said earlier it hopes that with the help of a strategic partner it can pursue the growth of business, strengthen brand power, access prime distribution channels, accelerate product innovation and business digitalisation.

In November 2016, Japan's Panasonic decided not to increase its stake of 10.74% in Gorenje.

Source: https://seenews.com

More than 10% growth of Slovenian exports and imports

Tuesday, 27/02/2018

The surplus in trade in January reached 36.7 million euros. The value of Slovenian exports increased by 13.6 percent at the annual level, to EUR 2.39 billion, while imports increased by 12.5 percent to EUR 2.35 billion.

The surplus in trade in goods was created in January for the fifth consecutive year, reaching 36.7 million euros this year. In January 2018, the value of exports and imports was higher than the average values ​​of monthly exports and imports last year. In January, the value of exports was higher by 1.7% and the value of imports by 2.5%, according to the published data of the statistical office.

In January, Slovenia exported goods worth EUR 1.9 billion to the European Union, up 15.1 percent from January last year, from which it imported goods worth EUR 1.8 billion, representing an annual increase of 7.8 percent growth. The January surplus in trade in trade with the Member States of the Union amounted to EUR 66.3 million and was the highest in the last two years.

In non-EU countries, Slovenia exported goods worth EUR 0.5 billion in January, an increase of 8.2 percent over January 2017. Imports from these countries increased by 32.2 percent annually, half a billion euros of goods. "The main reason for such an increase in imports is a one-off major transaction from the group of power machines and devices," the statistical office said.

Family Office Real Estate Management / Upravljanje zasebnega & družinskega nepremičninskega premoženja

Thursday, 01/02/2018

Family Office Real Estate Management / Upravljanje zasebnega & družinskega nepremičninskega premoženja

Family Office Real Estate Management / Upravljanje zasebnega & družinskega nepremičninskega premoženja

Slovenia's inflation rate at 1.7% in 2017

Monday, 22/01/2018

Slovenia's annual inflation rate rose to 1.7% in December, driven mainly by higher prices of food and petroleum products, the Statistics Office reported on Friday. The annual inflation rate was driven by costlier food (+3.1%) and petroleum products, each contributing 0.5 percentage points. Liquid fuel prices increased by 13.4%, diesel prices by 10.6% and petrol prices by 6.1%. Of food, prices of fresh fruit increased the most, as much as 12.4%, followed by prices of meat (+6.5%).

Also much costlier than a year ago is butter (+20.9%), olive oil (8.5%) and other milk products (+5.8%). A further 0.2 percentage points was added to annual inflation by 4.8% higher tobacco prices. On the other hand, annual inflation was kept down by 2.7% lower prices of motor cars, which contributed 0.2 percentage points to lower inflation. At the monthly level consumer prices were on average the same as in the previous month. Measured with the harmonised index of consumer prices, the EU standard, Slovenia's annual inflation ran at 1.9% and the monthly rate at 0.1% in December.

Krvavec ski resort sold to private investment firm

Tuesday, 12/12/2017

The company operating the Krvavec ski resort north of the capital Ljubljana has been sold to Alpska investicijska družba, an investment firm, as tool maker Union continued divesting non-core assets as part of a debt restructuring agreement with banks.

Unior said the transaction would be completed after several suspensive conditions have been fulfilled, including clearance from the creditors. The value of the transaction involving 98.6% of RTC Krvavec stock has not been disclosed.Unior acquired the debt-ridden RTC Krvavec in 2004 for about half a million euros, a transaction that made sense given that the company also owns the Rogla ski resort on Pohorje and the Terme Zreče spa.

Its tourism holding has been seen as a potential drag on the planned sale of the company by the state, which is by far the biggest shareholder through the Slovenian Sovereign Holding (39.4%) and the KAD fund (5.5%). In November Unior spun off its tourism division into a new company called Unitour in a bid to facilitate the divestment. Unior posted group revenue of EUR 180.7m in January-September, up almost a tenth over the year before. Net profit rose by a fifth to EUR 13.4m.

Salus in acquisition intention

Friday, 01/09/2017

One of the largest medical wholesalers in Slovenia, Salus published takeover intention about purchase of majority ownership stake in its pier Sanolabor. Salus has over EUR 200 million of annual revenues and profit in the range of EUR 4 million. Sanolabor is roughly one quarter of the size of its potential acquirere. 

Slovenian BDP in good trend

Thursday, 31/08/2017

Slovenian Gross domestic product in Q2 of 2017 increased for 4,4 percent. Without seasonality with same period of 2016 increased for very solid 5,2 precents.

 

Serbian investments on Video games market

Thursday, 20/07/2017

Serbian video game distributor ComputerLand has become the leading provider in Slovenia after acquiring two local distributors within the space of a month.

The Belgrade-based ComputerLand via Iris-Mega company acquired Videotop skupina in early June and Colby in mid-July to consolidate its hold on the Slovenian market.

Gorenje issued coupons at 1,30%

Wednesday, 25/01/2017

White goods manufacturer Gorenje successfuly issued for EUR 40 million coupon bonds, with  maturity of 11 months and annual interest rate of 1,30%. That is lowest interest rate in the Financing costs of Gorenje.

New Reference of RJ Finance: Turvac

Thursday, 05/01/2017

Today was completed JV project Turvac bewteen Slovenian company Turna d.o.o. and Belgium company Recticel NV. Every JV partner will own the 50% company with Inscripted Capital of EUR 3 million. Company RJ Finance was advising the company Turna d.o.o.

RJ Finance whish you all the best in 2017!

Thursday, 22/12/2016

Company RJ Finance wishes to all its business partners and other stakeholders sucessful 2017!

Helios sold

Tuesday, 06/12/2016

Japanese paint manufacturer Kansai Paint paid EUR 572 million 100% stake of Helios Group. The Austrian consortium Ring International acqured Helios from Slovenian state three years ago for EUR 145 million and restructured the company and substantialy increase its profitability.

New reference of RJ Finance: Gopek

Monday, 28/11/2016

On Friday was closed the deal bewteen the shareholders of Gopek d.d. and investor Tecnopool SpA. Italian company acquired 99,99% of shares of the Bakery Equipment Manufacturer from Slovenia. Gopek Group have annual turnover of EUR 18 million and net profit of EUR 1 million. Company RJ Finance was advising shareholders of Gopek d.d.

Panasonic's due diligence of Gorenje

Friday, 12/08/2016

At the end of July, Gorenje with considerable delay, announced that they allowed the Japanese Panasonic to carry out due diligence until the end of September. Panasonic could then also decided to offer to increase ownerhsip stake, currently owns almost 11 percent of Gorenje shares and is the third largest shareholder. Speculation about a possible takeover amplified Gorenje shares, which grew to EUR 7.7, which is the highest value in the last five years. Two weeks after the news, the investors enthusiasm subsided. A share price nevertheless remains more expensive than before disclosing the information. Panasonic ownerhsip share can be increased only with the consent of the Management Board and the Supervisory Board until 2018.

With Panasonic, Gorenje expects higher capital sustainability, new markets, synergies in purchasing, greater utilization of production capacity, new technology and improved positioning kitchen appliances and the possibility of penetrating Asian markets with its own products, such as premium brand Asko. Gorenje estimated that synergies in the business cooperation between the two companies could be more than EUR 100 million per year. Last year Gorenje realized exclusive project in Malaysia - Kuala Lumpur OPUS, in which they equipped 357 luxury apartments. Panasonic is also active in the housing market in Asian countries: their company PanaHome is building technologically equipped apartments in six Asian countries. By 2020, Gorenje seeks to achieve a return on equity of about 7 %. For comparison, last year Electrolux and Whirlpool had a 15 % return on equity and more than 20 % achived Turkish Arcelic. Last year, Gorenje increased share of funding for research and development to 3.2 % of revenue.

The world's most famous Panasonic's investment is with Tesla in giant factory, which will produce batteries for homes, energy companies and automobile. The factory will cost 4 to 5 billion dollars, Panasonic will invest $ 1.6 billion. Until 2019 Panasonic is forecasting new acquisitions in the automotive field. Panasonic's strategy in relation to the trademarks is to stick to the golden rule: regularly check what is the value of preserving brands to maximize the company's value and then decide on any additional investment in brands. Their brands are PanaHome in the field of residential construction with brands like Anchor, Viko, FirePro and Lighting Solutions. In the field of electronics they have Technics brand, Kok brand and a few others.

Marifarm entirely under the auspices of NKBM

Friday, 01/07/2016

Municipalities co-founders of the institute Maribor pharmacy, renounced its share in the pharmaceutical company Marifarm. Therefore Marifarm came under the auspices of NKBM that has in return slightly decreased repayment of the loan, which Farmadent will have to repay. The bank would be only temporary owner of the company, until it finds a buyer. NKBM earlier this month published a tender for the purchase of EUR 17.2 million receivables from Marifarm, which has received two binding offers. According to reports of Večer offer submitted Ukrainian company Arterium and London society Advinia Health Care.

Agrokor is preparing for IPO - Initial public offering

Friday, 24/06/2016

It's been two years since Croatian conglomerate Agrokor took over Mercator. Now, Agrokor is deciding between food sector and entire group. Most interesting is food sector, especially in the US, the Middle and Far East, and particularly in China. In both scenarios, owner of the Agrokor Group Mr. Ivica Todorić would give up a minority ownership share, 49 percent. IPO of the entire group is less likely to occur, mainly because the consolidation of commercial part, therefore, Mercator and Konzum, is still running. They combine processes, logistics, IT and purchasing. And this will take time. This year Agrokor already reprogrammed for EUR 350 million of debt at the Russian Sberbank and  planned by twice as much until the end of the year.

Desicion about IPO is related to deleverage of Agrokor. Namely, Agrokor Group (together with Mercator) has EUR 3 billion of debt. Their target is to get around EUR 1 billion from public offer. Mercator improved his operating, but there is till a variaton of sales revenues, since private consumption still has not been strengthened. Last year Mercator, for the first time in five years, again ended up with a profit. Suppliers are now paid within the period and Mercator is now even sponsoring and advertising.

Kolektor in a large construction project in Ljubljana

Friday, 10/06/2016

Collector and Gorenje Projekt are new owners of the land on the Frankopanska street in Ljubljana, across Tivoli Park, where once stood the factory Slovenijavina. They became owners trought company K Tivoli with purchase of receivables to companies Energoplan of DUTB. On this location, Kolektor's construction company Kolektor Koling and Gorenje Projekt (half owned by Gorenje) will build a residential complex Belle vie Tivoli with 195 apartments. The project is worth EUR 40 million. Construction of the complex is expected to last two years. The average price per square meter will be, as they say in Kolektor, EUR 2.100 (plus VAT).

Road company Gorica (CPG) sold to Kolektor Koling

Wednesday, 01/06/2016

Kolektor Koling as a part of Kolektor Group from Idrija, bought 97% ownership stake of construction company CPG for EUR 18 million. The starting price amounted EUR 16,4 million. Due diligence was carried out for seven potential buyers.

With this acquisition they created the largest construction company in Slovenia. In year 2015 SGP Pomgrad was the largest construction company in Slovenia with revenues of EUR 125 million (on group level). CGP created their record with EUR 86 million of revenus and Kolektor Koling created EUR 69 million. Together, last year they would created revenues in amount of EUR 155 million.

Unfinished shopping part of Stožice has a new owner

Tuesday, 24/05/2016

DUTB and Mr. Izet Rastoder signed an agreement for the purchase of EUR 84 million of receivables to Grep, the project company, which has built the shopping part (only foundation) of Stožice. Rastoder still has to pay the purchase price, of which amount is not known.

In year 2015 Grep had EUR 134 million of short-term and EUR 6,3 million long-term financial liabilities. In addition, Grep had approx. EUR 67 million of business liabilities. The negative equity amounted EUR 147,5 million and the balance sheet loss amounted EUR 177 million.

Gorenje with 50 million EIB loan to better household appliances

Thursday, 19/05/2016

The European Investment Bank (EIB) approved  Gorenje a loan of EUR 50 million. With this money manufacturer of white goods will finance a four-year program of research, development and innovation, in which they will produce new household appliances and upgrading product offer.

CEO Mr. Franjo Bobinac, said that the driver of their growth is development of premium and innovative products and brands of the highest class. He expects that by the 2020, their sales will double to 30 percent of total Group sales. This loan is the first transaction in Slovenia in the program InnovFin - EU funding for innovators. In seven years, this program will dispose with more than EUR 24 billion.

NKBM Bank Sold to US Buyout Fund Apollo and EBRD

Thursday, 21/04/2016

The Slovenian Sovereign Holding (SSH) confirmed the sale of Slovenia's second-largest bank, NKBM, to US buyout fund Apollo Global Management and the European Bank for Reconstruction and Development (EBRD) on Tuesday. A sales contract with which Apollo will get 80% and EBRD 20% of the bank for a combined EUR 250 mio has already been signed.

Water-bottling company sold to UAE Ardeya Global

Wednesday, 20/04/2016

Costella, the company that bottles the eponymous brand of natural mineral water, was sold to Ardeya Global from United Arab Emirates. The new owner has "long-term plans with the company" and wants to boost Costella's presence on the Slovenian market as well as take it to new markets in Northern Africa and the Middle East. According to the owner of Ardeya Global Ali Al Ameri, Costella is a well known water brand of the highest quality. The new owner also paid all of Costella's debt and plans to make it an international brand.

Helios and Ring now together in the enlarged Helios Group

Monday, 14/03/2016

The new, expanded Helios Group has operations and production in 18 countries around the world with headquarters in Slovenia. Name Helios now also carry the companies in Serbia, Austria, Russia, Poland and elsewhere. At the head of the management of the entire Group are now David Kubala and Hubert Čulík, members of the leadership are Ales Klavžar Patrick Lichtblau, Gert Schmidt-Leuhusen and Dietmar Jost. In 2015, the net debt of the Helios Group decreased by more than 25 percent, compared to 2014 they recorded also a double-digit increase of EBITDA. This year Helios Group is planning to invest in the production of resins Količevo worth EUR 2.5 million.

Telekom Slovenia merged Debitel company

Friday, 11/03/2016

Both companies submitted the acquisition contract to the district court in Ljubljana. An acquisition contract has been checked and approved by the supervisory boards of both companies. The largest Slovenian telecommunications operator bought mobile telephony service provider Debitel last year. The total value of the transaction amounted EUR 15.8 million.

Impol will buy the production facilities of bankrupt Croatian aluminium producer TLM

Friday, 19/02/2016

Impol from Slovenska Bistrica is the seventh largest Slovenian aluminium exporter and in March they will establish a production in Šibenik in a former TLM factory.  Investments of EUR 70 million are planned over the next five years. With new products they will entry into the automotive industry. Jernej Čokl, the boss of Impol, told that they will employ a workforce of 300-400 and will produce 100.000 tonnes of aluminium per year (at full capacity). The company's rolling mill at its headquarters in Slovenska Bistrica is half a century old and Impol plans to shut it down this year.  They will relocate the production to the more modern rolling mill in Šibenik. Impol already bought the Serbian factory aluminum products Seval from Sevojna in 2002. With TLM factory, Impol will unite three formerly leading Yugoslav producers.

Slovenia sells 91.58 % of Adria Airways

Friday, 29/01/2016

The Republic of Slovenia sold 91.58 % of Adria Airways to Luxembourg-headquartered turnaround specialist 4K Invest for EUR 0.1 million. Under the deal, Slovenia will contribute EUR 3.1 million and 4K Invest EUR 1 million for capital increase. Slovenia’s share of the capital increase is lower than estimated and cheaper than Adria Airways declaring bankruptcy, since Adria Airways contributes around EUR 10 million to the national treasury in taxes alone. Adria Airways has been facing business and financial problems. The money from the capital increase will be used to return Adria Airways to growth. Adria Airways will get a buyer who will restructure it, maintain the Slovenian airline and provide for its future development.

Investment into CEE countries for 2015 reached a historic high level

Friday, 15/01/2016

Investment into CEE countries (excluding Russia) for 2015 reached a historic high level at over EUR 9.55 billion, representing a 19% increase from previous year. The highest investment was into core-CEE countries (Czech Republic, Hungary, Poland, Slovakia and Romania) which reached EUR 8.4 billion in 2015, a 14% increase from year 2014 and well above the forecast numbers. The highest investment volume (43%) was in retail sector for its quality products. This substantial increase is based on a multitude of large investment deals on prime, dominant shopping centers located in Czech Republic and Poland. Larger deals are expected to be seen in Serbia, Croatia and Slovenia with investors looking to have a presence in these markets.

MK Group takes over 13,9% at Gorenjska banka

Friday, 08/01/2016

Serbian AIK bank, owned by MK Group (Miodrag Kostić), increased capital at Gorenjska banka, taking over 13,9% its shares. They became the second biggest owner of the bank. AIK bank provided major part of funds for Gorenjska banka capital increase in amount of EUR 13 million. AIK banka will be the main player at shareholder meetings since financial Sava holding (majority owner) is deprived of right to vote.

The Serbian government decides against selling Telekom

Thursday, 24/12/2015

The Serbian government has decided not to sell Telekom Srbija and as the Prime Minister Aleksandar Vucic told Telekom remains in the hands of the government. Although they received a good offer, they realized it was not good enough for them to go into the privatization of Telekom Srbija. The prime minister said today his cabinet made the decision today unanimously, and that it was suggested by a commission set up for the privatization of the company. The government expected the price that was also agreed on with union representatives.

 

The government offered a 58-percent stake in the state-owned telecommunications company for sale, and received six bids that were opened in late November, but not disclosed to the public. The prime minister said that the best offer came from USA and if they gave 100, 200 million more, there would be no dilemma. The investor counts on having problems once they take over Telekom and that partially contributed to the lowering of the price. The state currently owns 58.11 percent of Telekom, while the company owns 20 percent. Private citizens and current and former employees control stakes of 14.95 and 6.94 percent, respectively.

All the best in 2016!

Thursday, 24/12/2015

We would like to whish to all our business partners and colleagues all the best in 2016!

Slovenian construction firm Trimo sold to Poland's Innova Capital which support its international expansion

Friday, 18/12/2015

December 15 Slovenian steel construction products maker Trimo was sold to Polish investment fund Innova Capital. Slovenia's largest bank Nova Ljubljanska Banka (NLB) coordinated the sale. NLB said Innova had offered the highest price among several bidders. The unofficial price was about EUR 50 million ($55 million). The deal joins a growing list of Polish acquisitions in Slovenia. The Trimo transaction will be completed in the early months of 2016. Ten local banks, which own 97 percent of Trimo, have been looking to sell the company for about two years.

 

The sale has also been welcomed by the company's management and trade union. Chairman Igor Kržan said that Innova should help reinforce operations following the financial restructuring with which the company turned around its fortunes. Trimo was expected to end the year with a profit and revenues in excess of EUR 80 milliion. The sale is not expected to result in major changes for the company. Trimo anticipate that the Polish owner will provide greater development. Everything now depends on activities and development of know-how and trade union expects that Trimo headquarters, the development and marketing departments and production remain in Trebnje.

RJ Finance published a Book

Wednesday, 16/12/2015

Company RJ Finance published a book: Roman Jeras: Week - Story about a Big Deal. Slovenian version of the book: Roman Jeras: Teden - Zgodba o velikem poslu can be ordered on the following link.

Raiffeisen sells Slovenian unit to Apollo Global's Biser Bidco

Friday, 11/12/2015

Austria's Raiffeisen Bank International (RBI) agreed to sell its Slovenian unit for an undisclosed sum to Biser Bidco, run by an affiliate of U.S. investment fund Apollo Global Management. Raiffeisen announced its plan to pull out of the Slovenian market at the beginning of the year and said that the sale was a part of the company's strategy. The move comes after the US fund Apollo acquired the state-owned NKBM bank, now Slovenia's no. 3 bank, in June.

Raiffeisen will book a negative effect of EUR 49 million through the deal, which is due to be closed in the first half of 2016 pending regulatory approval. This sum is already included in its outlook. The deal, which will reduce RBI's risk-weighted assets by around EUR 270 million, will have a "minimal negative effect" on RBI's fully loaded Core Equity Tier 1 ratio. Slovenian company Raiffeisen Leasing was however not included in the transaction.

According to past media reports, Apollo is interested in creating the biggest bank in Slovenia through acquisitions of private and state-owned banks. The fund was mentioned already in September as a possible buyer of Raiffeisen banka as well as of Sberbank, the Russian-owned bank which is also withdrawing from Slovenia. Together NKBM and Raifeeisen have 12,2% of market share in Slovenia and according to the Bank of Slovenia no bank should exceed 30% of market share. Therefore, Apollo Global buying the Abanka bank is questionable aquisition.

Trigranit in US ownership

Wednesday, 02/12/2015

Texas-based TPG Real Estate Pacific Group has completed its acquisition of Hungarian developer TriGranit which includes office and retail assets in CEE. Largest part of portfolio are assets in Poland and Hungary. In its portfolio also projects from Slovenia and Croatia are included.

Domel will buy real estate from bankrupt LTH company

Friday, 27/11/2015

Domel will pay EUR 3,03 million for total 25 thousand square meters of LTH's real estate. The starting price was EUR 1,9 million. Now in Škofja Loka instead of chests they are going to produce electric motors for cars. This location will be fully occupied within two to three years. Domel will become an owner in February 2016.

Total value of investment is EUR 10 million. Domel will buy equipment in total value of EUR 3 million. Renovation of 50 years old production facilities will cost additional few million. At the end of year 2016 they expect that 30 to 50 employees will work in Škofja Loka. In the next three years they will open a few dozen new workplaces. This year Domel Group will exceed EUR 100 million of total revenues for the first time.

SDH and Aerodrom Ljubljana sold Adria Airways Tehnika

Wednesday, 25/11/2015

SDH and Aerodrom Ljubljana sold Adria Airways Tehnika shares to Polish company Linetech Holding. SDH had 52,33 percent stake in the company, while Aerodrom Ljubljana had 47,67 percent stake. The goal of this process was maximizing the sale price. At the same time they seek an owner who will support Adria Airways Tehnika growth and further development and kept its key features in Slovenia.

Lowering financial debt of Slovenian companies

Friday, 20/11/2015

Recently was published by Slovenian Statistical Office (SURS), that financial debt of the companies is decreasing. On average ratio between financial debt and EBITDA will decrease to 3 by the end of 2015.

Podravka – the takeover bid was successful

Wednesday, 18/11/2015

In takeover bids for Žito, Podravka has acquired 125.434 shares, which represents 35,25 percent of total shares. With this action Podravka increased their stake in the company to 86,80 percent. Meantime Žito already gained new Supervisory Board, three representatives from Podravka, President of the Slovenian small shareholders association and two employee representatives.

Slovenian market is becoming one of the most important markets for Croatia. With this acquisition Podravka Group will climb to the top of the food industy on the Slovenian market with approximately EUR 119 million of total revenue per year.

European Real Estate Undervalued

Tuesday, 13/10/2015

Despite that bond yields are at all-time lows in most of Europe and at the same time equity dividend yields close to long-term averages, about half European property markets are undervalued. That are findings of the research firm Capital Economics, most interesting city in this perspective is Budapest.

Residential Real Estate prices up

Monday, 28/09/2015

Slovenian staticstical Office published, that price of residential Real Estate was in Q2 2015 on average 2,3 percenteges higher than in Q1. Number of real estate transaction is increasing, with stress on older Real Estate, while new builds are not following the trend. 

 

Adriatic Marinas Investing

Monday, 21/09/2015

Marina operator and builder Adriatic Marinas invested €50m in the first half-year of 2015 in its luxury yacht and residential complex Porto Montenegro in Boka Kotorska on the north part of  Montenegro Adriatic coast, taking total investment since launch in 2006 to €396m.

Croatian Airlines on Sale

Tuesday, 15/09/2015

Croatian government started in 2015 the sales procedure of Croatia Airlines. Largest interest was indicated by South Korean company Korean Air and Taiwan company Eva Air. With revenues exceeding USD 13 billion Korean Air je is one of the largest Asian airlines, whipe Eva Air become famous with their Hello Kitty campaign.

Korean investment in Logistics

Friday, 11/09/2015

Korea-based private ADF Asset Management, specialised in logistic property, has bought an H&M warehouse in Hamburg from one of CEE logistics leaders Austria's CA Immo, which said the sales price was good, as received EUR 100 mn was well above book value.

 

Slovenian Gorenje sold one of its affiliates

Wednesday, 29/07/2015

Leading Slovenian industrial group Gorenje (Market Cap in LJSE: EUR 154 mn) and Polish company Tesla Recycling, a subsidiary of Elemental Holding (Market Cap in WSE: EUR 156 mn), signed a contract on the sale of a majority stake in Gorenje subsidiary Gorenje Surovina d.o.o., which also owns subsidiaries Kemis Valjevo in Serbia, Kemis BH in Bosnia and Herzegovina and Cleaning System S in Šabac, Serbia. The transaction will be after the completion in the size of EUR 29,2 milion the largest Polish investment in Slovenia.

Croatian Agrokor is investing

Monday, 20/07/2015

Largest retailer in the Balkan region, Croatian Agrokor is investing in its food related companies. One of the important companies is Agrolaguna, leading agricultural company in Croatian part of Istria, whose business includes wine and olive growing and cattle breeding. All products of Agrolaguna well-known and quality brands in the region. Agrokor invested in Agrolaguna more than EUR 30 million, mostly in new vineyards and olive groves, and the latest equipment, as well as the preconditions for the production of top-quality products.

Mega EUR 920 mn investment in Brač

Friday, 12/06/2015

One of the largest investments in Croatian Real Estate was announced. The total size of it is estimated to EUR 920 million and is focused to Medical Tourism. Location of the project in in Brač, one of the most recognised Croatian Islands. It is estimated that international investors behind the company Medis Investment will employ more than 1.300 people. 

Delavska hranilnica finalizes aquisition of Maribor Airport

Wednesday, 10/06/2015

Slovenian Savings Bank Delavska Hranilnica is also officially 100% owner of the second largest airport in Slovenia, Maribor Airport. The acquisition with total value of approximate EUR 2 million was initiated in 2014. Delavska Hranilnica profitable financial institution, majority owned by Workers Unions.

New service of RJ Finance

Monday, 01/06/2015

Company RJ Finance proudly announces new service: Non-Capital Strategic Partnerships. Service is focused to the clients, that are creating majority of the revenues with one account and would like to change the relationship wheather strenghten the existing account or change it with another strategic partner. For additional information please, contact us.

Slovenian Telekom Sales Procedure in important phase

Thursday, 21/05/2015

Today will be officially submitted the final binding offer from British private equity fund Cinven Partners LLP. Unofficially was disclosed, that the offer will be in the range of EUR 130 per share. Structure of the offer is complex and shareholders would at the selling receive less than EUR 130, the difference would be subject to certain conditions. Now is turn on the Slovenian Government if they will support the procedure. Closing price on Ljubljana Stock Exchange on 20.5. was EUR 109,00 that makes Market Cap EUR 712,37 million.

Rents under Investigation

Sunday, 03/05/2015

Croatian state agencies and entities were paing too expensive rents was result of the investigation of State entity responsible for economics of managing state assets. They found out that in 2015 exists more than 50 tennant agreements, where monthly rent per square meter exceeds EUR 11. The record they found was HAKOM - Croatian regulatory authority for network industries with EUR 24, that are paing for 5.140 square meters in Zagreb Sky Office.

Sava RE Shareholders Assembly

Monday, 20/04/2015

Sava RE shareholders assembly is announced for 28th May. The 30th General Meeting of Shareholders will be called in the period, when shares POSR are experiencing very strong growth. Many participants on the market expects larger ownership changes in future months. Market Capitalisation of Sava RE exceeds EUR 280 million.

Selling procedure Newspaper Company DELO

Friday, 10/04/2015

Slovenian Newspaper Company Delo d.d. is on sale for several years. In this round of selling procedure, they received four non-binding offers, from Slovenian holding company KS Naložbe, local financial institution Delavska Hranilnica and Slovakian media company Joy TV. The bidding amounts are unofficialy in the range of EUR 5 million. Company had in 2013 EUR 1 million of EBIT and Value of Capital EUR 8,5 million.

 

EUR 18,5 mn Real Estate deal in Ljubljana

Wednesday, 18/03/2015

Croatian company Benussi owned by Silvan Benusi from croatian Istria acquired more than 110.000 m2 of land in the industrial area of Ljubljana, near Ljubljana Ring. Benusi paid for mentioned Real Estate  EUR 18,5 million and that makes one of the largest deals in the region. Benusi is authorised dealer of Iveco trucks in Slovenia and Croatia.

Slovenian bad bank DUTB with Mangement Changes

Friday, 06/03/2015

With the conversion of debt to equity slovenian bad bank DUTB has become the owner or co-owner of almost 120 Slovenian companies, including self-adhesive manufacturer Aero Celje, steel castings manufacturer Litostroj Jeklo and MLM, presses producer Litostroj Ravne. In 2014 it took over the ownership of 52 properties in the nominal value of 55 million euro and owned 74 properties and stakes in 24 companies by the end of the year.

As there recent change of non-executive members of Board of Directors was executed, it is expected that there will be also change in executive members of BoD. There were several issues related to non-efficient management of DUTB exposed in public media recently.

Croatian TLM sold to Russian investor

Tuesday, 03/03/2015

Croatian aluminium company, that had in best years EUR 200 million of revenues was after financial difficulties recently sold to Russian investor Mr. Igor Samis for simbolic amount of HRK 1. That could be step towards better times of once largest company in Šibenik.

Record RE investments to Europe

Tuesday, 24/02/2015

Foreign investors allocated a record EUR 56billion to European commercial real estate last year, with especially strong 4Q14 US demand taking overall inflows to €186bn, says report of the advisory company DTZ. They expects 2015 to reach €210bn or higher due to attractive pricing and weight of global capital.

Austria CA Immo with new Russian owners

Monday, 16/02/2015

The Russian O1 Group now owns 26% of CA Immobilien AG after the close of its partial offer for nearly 10% and initial acquisition of 16.15% from Unicredit Bank. CA Immo is quoted on Vienna Stock Exchange and has several real estate investments in CEE. Their portfolio includes: Austria Trend Hotel Ljubljana with 18.000 m2, Zagreb Tower with 26.000 m2, Belgrade Office Park I with 10.000 m2 and Sava Business Centre Belgrade with 18.600 m2.

Vipap Paper Mill on Sale

Tuesday, 10/02/2015

Czech Finance Ministry has already started preparations for the sale of Slovenian paper mill VIPAP Videm Krško at the same time they want to sell also radiator manufacturer Kolorado and part of property belonging to a Karlovy Vary Thermal Hotel.

Slovenian paper mill VIPAP is the largest of its kind in the Balkans, specializes in the production of newsprint and is a legacy of the Czech Consolidation Agency; initialy it belonged IPB bank. "Although we recognize that the market situation is bad, it makes no sense to wait for it to come in this field, a change for the better. There is no reason to keep such a venture, "says Finance Ministry represenative. VIPAP needs an owner who has the capital, has a vision of how companies develop and implement a massive investment.

NKBM Bank close to ownership change

Tuesday, 03/02/2015

Second largest Slovenian bank, Nova KBM is close to the ownership change as Private Equity fund Apollo Global Management made into last round of privatisation process. There is confirmatory Due Dilligence under way, however Slovenian State is not determined to sell the 100% stake in this moment. The regulatory deadline is end of 2016 and the question for sellers is, if the bid in the range of EUR 400 million is the maksimum price that will be possible to achieve. Second bidder, Hungarian OTP bank seems much less interested in the acquisition after execution of Due Dilligences.

Adris Group could sell TDR

Wednesday, 21/01/2015

Shareholders of Croatian Adris Group announced green light to the company management for starting selling procedure of its largest asset, tobacco company from Rovinj, TDR. Company's CEO Ante Vlahović mentioned, that expected selling price is very high and if the sales will be realised, the money will be used for strenghtening of Adris Group. Potential bidders are among 4 largest tobacco companies in Europe, that hold more than 80% of the market, value of the deal could exceed EUR 300 million.

Low Slovenia 10-Year Bond Yield

Monday, 05/01/2015

Slovenia 10-Year Bond Yield on electonic Stock Exchange MTS reached 1,98%. That is the lowest value since Slovenia entered EURO zone in 2007. Highes yeild was in April 2013, when it went also over pshihological limit of 7%.

All the best in 2015!

Friday, 19/12/2014

RJ Finance Team whish you all the best in 2015! It has to be a great year!

Mercator Group 2015 plans

Wednesday, 10/12/2014

The Mercator Group’s revenue in the next year is planned at EUR 2.85 bn, that makes 7% increase to the 2014 (e). Considerable improvement of profitability is planned. Planned cash flows from operating activities (EBITDA) in 2015 is planned at EUR 182 million, which is 65% more than the planned figure for 2014. That includes also a result from divestment of some important Assets like: Pekarna Grosuplje and Mercator EMBA.

Holding ACH in positive direction

Friday, 21/11/2014

Slovenian financial holding ACH is with EUR 110 million one of the more indebted companies in the country. Company was close to bakruptcy procedure, however the bank debtors agreed on restructuring, the assets that will have to be sold include: telecom company Debitel, hotels Union Hoteli, IT company Perftech and some selected Real Estate Assets.

First Croatian VC

Friday, 14/11/2014

First Croatian Venture Capital focusing on local Startups is under stablishment. Size mentioned is EUR 40 million, part of it is supposed to come from World Bank, part of it from Croatian Government and part of it would be Private partner selected on public tender. Under initial plan ithe VC would be established in 2015.

Telekom Slovenije in next round of privatisation

Tuesday, 04/11/2014

Most likely future owners of Slovenian Telekom are: Deutsche Telekom, Providence, Cinven, Apax or Bain Capital. Mentioned companies showed most interest in the Slovenian Government intention to sell a 72 percent stake in Telekom Slovenije. The government hopes to raise as much as seven times Telekom Slovenije's core earnings of EUR 237 million, giving it a valuation over EUR 1.6 billion. Market Capitalisation on Ljubljana Stock Exchange on 3.11. was EUR 954 million.

NLB and NKBM will need additional equity

Monday, 27/10/2014

Two largest Slovenian Banks, Nova Ljubljanska Banka (NLB) and Nova KBM (NKBM) failed on the stress tests of 130 system banks in EURO zone. Equity difference is EUR 65 million. That were surprising results, as both banks already got hefty capital increases in December 2013. In that capital increase procedure, three largest Slovenian Banks, NLB, NKBM and Abanka received EUR 3,012 billion.

 

Tušmobil in the hands of United Group

Monday, 20/10/2014

Third largest mobile network operator TušMobil that posses 12,5% of Slovenian market changed its ownership. It was established and developed in the Tuš Holding Group, controlled by Slovenian Entreprenour Mirko Tuš and now it is owned by Telemach Slovenia, that is part of CEE Private Equity investor United Group. Value of the transaction is estimated to EUR 120 million. 

Ownership changes in Laško Brewery

Friday, 17/10/2014

Ongoing capital increase procedure will have important consequences on Pivovarna Laško ownership structure. Planned value of the capital increase is  EUR 75 million and current Market Capitalisation on Ljubljana Stock Exchange is EUR 196 million. Pivovarna Laško is largest Slovenian Brewery, holding majority ownership stake also in second largest Slovenian Brewery Pivovarna Union and several other companies.

Našice Cement on Sale

Monday, 13/10/2014

Nexe Group will most likely sell its most profitable company NašiceCement. There is morgage of Zagrebačka Banka (Member of UniCredit Group) in the amount of HRK 88 million related to this leading cement player in Croatia. Among potential buyers most interest was shown from the side of Heidelberg, global cement leader from Germany with more than EUR 14 billion tunrnover.

Mercator is selling its Assets

Thursday, 09/10/2014

There is a large list of Assets of largest Slovenian Mercator on Sale. There is 170 units on Sale in Slovenia - in general there are retail shops of various formats and building land. In Croatia is on sale 45 units, that represent retail shops with total size of more than 91.000 m2. There are some estimations, that total market value of the package on sale could be in the range of EUR 200 million.

Continuation of Telekom and Cinkarna privatisation

Thursday, 02/10/2014

Continuation of the privatisation processof two important slovenian companies national telecon Telekom Slovenije and chemical company Cinkarna Celje is positive message of new governement in relation to the international investors community.

Croatian Tehnobeton in pre-bancruptcy

Wednesday, 01/10/2014

Croatian concrete manufacturer Zagorje Tehnobeton is on pre-bancruptcy procedure as independent auditor found for more than HRK 140 million additional losses. Company needs additional equity in short time.

Slovenian growth 2,0%

Tuesday, 30/09/2014

Slovenian Macroeconomic institute UMAR published, that Slovenian GDP growth in 2014 will reach 2,0%. That is great news, as in the past years the growth was negative and it seems that economy is finaly on its recovery path.

New product of RJ Finance RJCI

Thursday, 25/09/2014

With October 2014 new product of the company RJ Finance 'RJ Finance Capital Increase' or RJCI will be introduced. Main focus of RJCI will be related to Capital Increase procedures, where the innovative concept and new approach will result in greated satisfaction of all engaged parties.

Successful completition of the project

Saturday, 20/09/2014

With end of October Mr. Roman Jeras will complete his involvement in the TKK project. This chemical company, with EUR 50 million turnover one of the leaders in its segment in Balkan region, completed its sales procedure and successful transformation into the multinational group. Mr. Jeras was part of TKK Group for 2 years, first as a President of Supervisory Board and after that as company's CEO. In the period of his involvment all TKK Group indicators improved (Net Profit was doubled to EUR 2 million).

Croatia will enter EU in July

Wednesday, 27/03/2013

The European Commission said it adopted on Tuesday 26th March its last monitoring report on Croatia's preparations for joining the European Union, concluding that the Adriatic country will be ready to join the bloc on July 1st 2013.

Retail RE in Slovenia positive

Tuesday, 26/03/2013

Slovenia’s economic challenges have dampened commercial real estate activity in the capital Ljubljana, though retail is holding up, published international real estate advisor Jones Lang LaSalle. JLL also said that the government needs to carry out more austerity measures to get the economy back on track.

Sava RE downgraded

Monday, 18/03/2013

The rating agency Standard and Poor's (S&P) put Sava Re on its negative watch list (BBB+). This was due to the acquisition of 50.99 percent in Zavarovalnica Maribor (ZM). According to S&P, Sava Re could benefit significantly from this transaction, which, however, carries an execution risk.

After its regular periodic review, S&P decided to keep Sava Re on its negative watch list (CreditWatch with negative implications). In the next three months, it intends to resolve the CreditWatch placement of the reinsurance company. By then, it anticipates that Sava Re will have executed the capital increase, which will give S&P a clearer understanding of Sava Re's ability to acquire the remaining shares in ZM from Slovenska odškodninska družba (SOD). S&P could lower Sava Re's rating by one notch if the capital increase is only partially successful or unsuccessful or if ZM's integration weakens the company's consolidated capital adequacy. Market Capitalisation of Sava RE (POSR) on Ljubljan Stock Exchange on 18.3.2013 was EUR 70 million.

Abanka with new Share Increase and downgrade

Tuesday, 29/01/2013

Slovenian Securities Market Agency approved the prospectus where third largest Slovenian bank Abanka Vipa d.d.  can issue shares in total minimum issue value of EUR 50,000,000.40 and maximum issue value of EUR 90,000,002.40. Most likely the shares will be purchased by existing, state related owners.

The international rating agency Capital Intelligence amended Abanka’s credit rating on 21 December 2012. The agency assigned Abanka the following ratings: a Long-Term Issuer Rating of "BB", a Short-Term Issuer Rating of "B"', a Financial Strength Rating of "BB" and a "Negative" Outlook.  The agency also confirmed the Bank’s Support Rating of "4".

Divestment of Croatian Agrokor

Friday, 11/01/2013

US REIT W. P. Carey has acquired eight retail stores in Croatia for €34.6m to be leased back to regional food and drink producer and retailer Agrokor, bringing its total sale-leaseback deals with Agrokor to €192m in three years.

Sava RE acquired Zavarovalnica Maribor

Wednesday, 19/12/2012

Last week Sava Re concluded the negotiations for the purchase of a 51% stake in Zavarovalnica Maribor. Thereby, the Sava Re Group became the second largest insurance group in Slovenia, which is an basis for further growth, enhancing both financial strength and stability - in first nine months of 2012 Group generated solid premium growth (+6,7%). For financing the acquisition the increase of share capital by EUR 55 million through a public offering of shares is planned.

U.S. Investor active in the region started new fundraising

Monday, 10/12/2012

Founded in 1993, H.I.G. has found success in continuing to target a range of businesses related to the manufacturing and services sectors. It has been six years since H.I.G. Capital's last appearance on the fundraising circuit for its flagship fund, but the Miami firm, whose portfolio stretches across sectors such as consumer products, manufacturing and health care, is returning to the trail to raise a fifth buyout fund. In Slovenian H.I.G. is present via company Lumar I.G., Maribor, producer of prefabricated houses.

Innova Capital on halt at Litostroj Power

Tuesday, 27/11/2012

Daughter company of Cimos Plc Koper, Litostroj Power Ltd will most likely not be sold to Private Equity Innova Capital from Poland. Initial offer of the Innova was EUR 40 million, however newspaper Dnevnik disclosed, that value of the offer was in those days decrease to almost half of that amount. Most likely the financial problems of Cimos Group will be sold via capital increase in the amount of EUR 8 million, where most of the Equity will be paid by Slovenian State related entities.

Mercator with negative performance

Wednesday, 14/11/2012

Largest Slovenian and important regional retailer Mercator Group exceeded EUR 2.1 billion of revenue in the period Q3 2012, which is approximately the same as in the corresponding period last year. Revenue in Slovenia dropped by 2% while in international markets, it rose by 4.4%.

Economic slowdown in the region, persisting debt crisis, drop in Slovenian import and export, and negative changes in exchange rates in Serbia had a strong negative impact on Mercator Group performance. As a result, Mercator Group saw a loss of EUR 22 million in the period Q3 2012.

 

Zavarovalnica Maribor on Sale

Monday, 05/11/2012

One of the largest Slovenian Insurance Companies, Zavarovalnica Maribor is on sale. It troubled owner, second largest Slovenian bank Nova KBM (NKBM) needs by the end of the 2012 at least EUR 100 million of fresh capital and part of it should came also from Zavarovalnica Maribor. In recent weeks Due Diligence of ZM was executed by Austrian insurance company Grawe, local Reinsurance company Pozavarovalnica Sava and local financial holding KD Group. The binding offers have to be submitted by Wednesday, the 7th.

Orco facing ownership changes

Tuesday, 23/10/2012

Listed eastern European developer and investor Orco Property Group said it has received notifications of shareholdings totalling 20.69% acquired by two offshore companies - British Virgin Islands-registered Crestline Ventures Corp and Cyprus-based Gamala. An unconfirmed local news report said Czech property tycoon Radovan Vitek is behind the purchases. Orco has presence also in Croatian tourist segment via Sunčani Hvar project.

H.I.G active on the market

Wednesday, 17/10/2012

U.S.A. private equity fund HIG Capital said its European affiliate reached an agreement to acquire nearly half of a subsidiary of Spanish audiovisual company Vértice 360 SA for EUR 16 million. HIG Capital Europe is present also in Slovenia via investment in the company Lumar IG d.o.o. Maribor, the leading Slovenian manufacturer of prefabricated houses.

Probanka with new Management

Monday, 24/09/2012

In Friday Slovenian bank Probanka got new Management. Its previous head of Management Board, Mrs. Pajenk and Mrs. Lah were dismissed due to negative performance and unclear plans for the future. New CEO of the bank is Mr. Kos. It is not clear, what is present size of Probanka balance sheet, but according to the data  Q2 2012, it should be about EUR 1 billion. Out of that is at least 10% of Non-performing Loans.

French Klepierre oversubscribed Bond Issue

Wednesday, 12/09/2012

French shopping centre REIT Klépierre, in which Simon Property Group has a large minority stake, has issued a seven-year EUR 500 million bond with a coupon of 2.75%, and said it was nearly six times oversubscribed soon after launch. The issue brings the firm's new debt market financing this year to nearly EUR 1 billion.

Italy sells EUR 350 billion of state assets

Wednesday, 05/09/2012

Italian govenment property agency Demanio is preparing to sell EUR 350 billion of state-owned property, according to Italian newspaper ItaliaOggi. Although successive administrations have tried and failed to achieve property sales to cut national debt, Prime Minister Mario Monti is now under intense international pressure to do so.

Chinese investment in Heavy Industry

Monday, 03/09/2012

Chinese construction machine maker Shandong Heavy Industry Group-Weichai Group said it has agreed to acquire a 25% stake in German forklift maker Kion Group for EUR 738 million. Mentioned partnership is one of the largest investments in EU heavy industry sector in 2012.


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