Bloomberg News

Slovenian Regulator Suspends Companies’ Voting Rights

April 17, 2012

Slovenia’s market regulator suspended the voting rights of stakeholders in Krka Group d.d., which include Luka Koper (LKPG) d.d. and Zavarovalnica Triglav (ZVTG) d.d., until they announce a takeover bid for the drugmaker or dispose of their stock.

The state-owned companies Slovenska Odskodninska Druzba d.d., Kapitalska Druzba d.d., a unit of Nova Kreditna Banka Maribor (KBMR) d.d., Aerodrom Ljubljana (AELG) d.d., Luka Koper and Triglav, an insurer, own about 27.5 percent of Krka. They are “are acting in concert to achieve and exceed the takeover threshold,” the Novo mesto-based drug maker said in a regulatory statement today after receiving a note from the Securities Market Agency in Ljubljana.

According to Slovenia’s legislation, a company or a group of companies acting together must make a takeover bid if it owns more than 25 percent of a target firm. The legislation is set to be amended by lawmakers to lift the threshold to 33 percent, Damjan Zugelj, the director of the securities agency, said in a phone interview today.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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