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Contract signed for the sale of Aerodrom Ljubljana, d. d.

After having successfully concluded negotiations between Slovenian Sovereign Holding and Fraport AG from Germany (hereinafter referred to as: Fraport), Slovenian Sovereign Holding, on its own behalf and for the account of the Republic of Slovenia, together with other members of the consortium of sellers, signed a contract on the sale of 2,868,116 (75.5%) shares of Aerodrom Ljubljana, d.d..

 

In addition to Slovenian Sovereign Holding, the contract on the sale of shares of Aerodrom Ljubljana, d.d., was also signed by the following sellers: Kapitalska družba, d.d., Zavarovalnica Triglav, d.d., KD Skladi, družba za upravljanje, d.o.o., AlpenInvest, družba za upravljanje investicijskih skladov, d.o.o., Modra Zavarovalnica, d.d., and Abanka Vipa, d.d..

 

When the transfer of shares is completed, Fraport intends to publish a takeover bid for the takeover of the remaining shares, in accordance with the Takeover Act.

 

The structured sale process was run and coordinated by Slovenian Sovereign Holding, in cooperation with KPMG as a financial adviser and with Schoenherr as a legal adviser. The entire sale process was carried out in two phases, and a contact was established with a wide collection of investors from all over the world. The sale process was carried out in a transparent manner, providing an equal treatment to all investors who participated in the sale process, and in line with the international practice in this field.

 

Based on the competitive sale process, the final buyer which was selected was Fraport, having bought the shares at the price of EUR 61.75 per share, which means that the entire value of Aerodrom Ljubljana, d.d., amounts to EUR 234,435,542.25. The price per share achieved represents approximately 21.4 EBITDA multiple.

 

Fraport AG is the owner and the manager of airports all over the world, managing 10 airports as of today. The company’s airport in Frankfurt is one of the main airports globally, both in terms of passenger volume as well as cargo volume. In 2013, 58 million passengers were recorded, while the entire Fraport Group generated EUR 2.56 billion in revenue and EUR 236 of net profit. 

 

As of 31 December 2013, the market capitalisation of the company amounted to around EUR 5.0 billion. Since 2001, Fraport is stock listed and its largest institutional owners are the State of Hesse and Stadwerke Frankfurt am Main Holding GmbH.

 

The purpose of Fraport is to strengthen the strategic competitiveness of the Ljubljana Airport, both for the benefit of its users as well as the entire Slovenian economy.

 

Slovenian Sovereign Holding has assessed that the sale of Aerodrom Ljubljana is very attractive, as it provides a premium on the stock price and beyond a very promising strategic outlook for the future development of the airport. This is beneficial for the country.

 

Slovenian Sovereign Holding