STA, 23 September 2019 - Pošta Slovenije, the state-owned postal operator, plans to acquire 72% of the logistics company Intereuropa at EUR 1.45 per share. It is to purchase 9,168,425 regular and 10,675,965 priority shares, which totals EUR 28.75 million, Intereuropa says on the web site of the Ljubljana Stock Exchange.
This is in line with the contract that Pošta Slovenije made with a consortium of sellers, comprising SID Banka, NLB, NKBM, Gorenjska Banka, SKB Banka and Banka Intesa Sanpaolo, on 10 May.
The takeover was green-lighted by the Competition Protection Agency at the beginning of the month.
There was much speculation about the value of the deal, with the business daily Finance reporting of a EUR 40 million range, or EUR 100 million together with debt.
But the amount revealed today is closer to the stock market value of the 72% stake, which was estimated at roughly EUR 30 million at the beginning of the month.
Pošta Slovenije is now expected to publish a takeover bid for the outstanding stock in line with competition law. The price per share is also set at EUR 1.45.
Last Friday, a share of Intereuropa was worth EUR 2.54 on the Ljubljana Stock Exchange.
