As reported by Slovenian Press Agency, it has been a lively week on the Ljubljana Stock Exchange, with the SBI TOP index gaining almost 1.5%, mostly owing to the sale of brewer Pivovarna Laško to Heineken and Telekom Slovenije privatisation entering a final phase. The former saw its share surge, while Telekom dropped significantly before stabilising on the last day.

The blue chip index finished the week 1.42% higher at 821.92 points, and volumes were also above the weekly average, standing at around 14 million euros.

“Everything has been revolving lately around privatisation and the related acquisitions of companies,” Andrej Zakotnik of the brokerage GBD has told the STA. This is confirmed by the great interest in shares of Pivovarna Laško (EUR 3.32m), drug maker Krka (EUR 3.01m) and Telekom (EUR 2.34m), according to him.

The news of the week was the consortium of owners selling a combined 51.11% stake of Pivovarna Laško to Heineken. The Dutch brewer offered EUR 25.56 per share, after which the share gained 17% to settle at EUR 24.5.

The difference in the offered price and the price on the stock exchange is more than 4% and investors continue to buy it, as they are looking at making some profit, said the analyst.

While the sale of Pivovarna Laško has been practically finalised, the sale of telecoms incumbent Telekom Slovenije is still uncertain. “It was a great surprise that Deutsche Telekom has excluded itself from the race,” Zakotnik said.

This left the UK-based private equity firm Cinven as the sole bidder for Telekom Slovenije, which according to media reports has offered a price well below the current price on the Ljubljana Stock Exchange.

The uncertainty resulted in Telekom share dropping by 7.16% this week to finish at EUR 119.85.
Krka and household appliance maker Gorenje, which generate much of their revenue abroad, also saw their shares post significant gains. Krka was up by 3.24% to EUR 67 and Gorenje put on 4.44% to EUR 6.11.

Port operator Luka Koper also performed well, gaining 4.7% to EUR 26.50, followed by energy company Petrol (+4.26% to EUR 289) and reinsurer Pozavarovalnica Sava (+2.5% to EUR 16.40).

Retailer Mercator was also active, gaining 1.38% to EUR 73.50, while insurer Zavarovalnica Triglav was the only blue chip to finish the week in the red (-0.69% to EUR 28.70).

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