LJUBLJANA, Oct 14 (Reuters) - Slovenian finance and tourism
company Sava SAVA.LJ must sell its stake in domestic lender
Gorenjska Banka within six months, the Bank of Slovenia said on
its website on Wednesday.
Gorenjska was one of eight Slovenian banks that failed the
country's stress tests, or financial health checks, in December
2013 and is the only one that still needs to raise capital.
"Sava does not have the financial strength to give Gorenjska
Banka and its business the financial support it needs," the
central bank said.
In March, the central bank said Gorenjska had a capital
shortfall of 58 million euros ($66 million) which had to be
covered by the end of 2015. Gorenjska said it would look for a
strategic investor and would not need state aid. urn:newsml:reuters.com:*:nL5N0W43FY
Sava, which is the largest shareholder in Gorenjska, said in
June it was planning to sell its 44.07 percent in the bank, but
it has not found a buyer so far. urn:newsml:reuters.com:*:nL5N0YW4H1
Sava is struggling with large debts, put at 235 million
euros by local media. Other shareholders in Gorenjska are mostly
local companies and banks.
The Slovenian government poured more than 3 billion euros
into local banks in 2013 to prevent them from collapsing under a
large amount of bad loans, avoiding an international bailout.
($1 = 0.8766 euros)
(Reporting by Marja Novak; editing by David Clarke)
((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))
Keywords: SLOVENIA BANK/