Author: STA

Holding Istrabenz and the bank Gorenjska banka have officially launched a process to offload their 8% stake in energy company Petrol by sending an invitation for the submission of binding bids to around 130 qualified investors.

Istrabenz had already commissioned Publikum Holding in spring as advisor for the sale of its 4.05% stake (84,490 shares) in Petrol, announcing it would seek to get other Petrol shareholders to join in. The business daily Finance reports online that the deadline for the submission of bids expires on October 9th.

Once it is clear how much the prospective buyers are bidding, Istrabenz and Gorenjska banka will also invite the banks NLB and NKBM to sell their combined 8% in Petrol.

The two state-owned banks got the shares through the seizure of the shares of the Koper-based holding, which used to hold vast interests across several industries, but then collapsed under the mountain of debts following the onset of the crisis in late 2008.

Trading at close to EUR 1,000 before the crisis, Petrol shares closed at EUR 305 at the Ljubljana Stock Exchange on Friday, down 0.97% from the day before.

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