Slovenia bars Croatia's Adris from raising Pozavarovalnica stake-media
21/10/2016 12:11
LJUBLJANA, Oct 21 (Reuters) - Slovenia's Insurance
Supervision Agency has banned Croatian tourism and insurance
group Adris ADRG.ZA from increasing its 20-percent stake in
reinsurer Pozavarovalnica Sava POSR.LJ , local media said on
Friday.
The head of the agency Sergej Simoniti confirmed to Reuters
they had taken a decision but did not give further details due
to data protection regulations.
Adris, the second biggest shareholder in Pozavarovalnica, in
May asked permission to raise its stake to up to 33 percent. The
Slovenian state and companies it controls are the largest
shareholders in Pozavarovalnica holding about 38 percent.
Adris was not immediately available to comment.
For years Slovenia has been reluctant to sell off holdings
in its major banks and companies, which means the government
still controls about 50 percent of the economy.
Last year, the government decided to keep a stake of at
least 25 percent in Pozavarovalnica and said that no other
investor would be allowed to have a share in the company that
would be bigger than the state's.
The government has applied the same rule to some other large
companies which include the country's largest bank Nova
Ljubljanska Banka, pharmaceutical producer Krka KRKG.LJ , fuel
retailer Petrol PETG.LJ and insurer Zavarovalnica Triglav
ZVTG.LJ .
Shares of Pozavarovalnica lost 0.6 percent to 13.05 euros by
1050 GMT on Friday, while the blue chip SBI index .SBITOP lost
0.06 percent.
(Reporting By Marja Novak. Editing by Jane Merriman)
((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))
Keywords: SLOVENIA POZAVAROVALNICA/