Assessment of Administrative Sanctions by the Competition Protection Agency
January 2024
Spela Arsova, Partner, Selih in partnerji
One year has passed since the entry into force of the new Prevention of Restriction of Competition Act (ZPOmK-2)[1]. Among the most important changes brought by the new law is the introduction of the so-called administrative sanctioning which replaced the minor offences procedure under the previous ZPOmK-1[2]. Previously, the minor offences procedure, and thus the imposition of a penalty, was only initiated after the administrative decision finding an infringement of the competition rules had become final. In practice, such a separation proved…
Sale of a 100 % Shareholding in UNIOR Components d.o.o., Kragujevac, Serbia
June 2023
Unior Components D.O.O. Kragujevac is an enterprise based in Serbia. It is owned by UNIOR d.d., based in Slovenia, and operates in the Machine Tool Manufacturing industry. The latest financial highlights indicate a net sales revenue drop of 1.73% in 2021. A growth of 4.4% was recorded in its total assets. In 2021, Unior Components D.O.O. Kragujevac’s net profit margin decreased by 3%.
Sale of 100 % Shareholding in the Subsidiary UNITUR d.o.o., Zreče, Slovenia
June 2023
The company operates the spa resort Terme Zreče and the ski center Rogla. According to the annual report of the company, with just over 300 employees, it exceeded its revenue targets by more than 15%, with revenues generated at Rogla accounting for slightly more than half of the total and revenues booked at Terme Zreče accounting for slightly less. Compared to 2021, the revenues at Rogla increased by 62% and at Terme Zreče by 26%. Unitur ended the last financial year with a net profit of just over EUR 500,000. Last year, the company invested EUR 3.1 million, including EUR 1.5 million…
EUR 150 Million in Renewable Energy Incentives
June 2023
Slovenia's government plans to provide incentives worth EUR 150 million (USD 164 million) to support the development of renewable energy capacity in the country. The government plans to launch a public call for investments in the production of electricity from renewable sources, power storage, and production of heat from renewable energy sources in September.
The incentives will back electricity production from hydropower plants, photovoltaic plants, and geothermal plants with an installed capacity of 1 MW or less than 6 MW if the production facility is fully owned by small and medium-sized…
SEE Legal Members Assist NIPPON EXPRESS HOLDINGS, Inc. in Acquiring the Shares of the Multiple Subsidiaries of Cargo-Partner Group Holding AG
May 2023
POLENAK Law Firm, NNDKP, and SELIH & Partnerji were part of the international team of advisors that assisted NIPPON EXPRESS HOLDINGS, Inc., one of the world’s leading logistics companies, in acquiring the shares of the multiple subsidiaries of Cargo-Partner Group Holding AG (Cargo-Partner), which provides global logistics services through its main business sites in Central and Eastern Europe.
POLENAK Law Firm advised Nippon Express Holding Inc. on FDI reporting requirements. The team included Kristijan Polenak, Managing partner, and Tatjana Shishkovska, Partner.
NNDKP advised…
North-South Gas Interconnections in Central Eastern and Southeastern Europe (Hungary-Slovenia-Italy Interconnection)
May 2023
The PCI will establish a bi-directional interconnection between Slovenian and Hungarian gas transmission systems and, with that, a connection of the national gas markets. It will improve possibilities for diversification of gas sources (LNG sources from the Adriatic region and any other sources), which are available in Slovenia and enable access to gas storages in Hungary for Slovenian users. The security of supply (N-1 criteria) will be improved for the existing Slovenian gas system as well as for the Hungarian gas market to a certain extent. Phase I (planned to be commissioned on 1…
Sale of a 29.253% Shareholding in Štore Steel d.o.o., Štore, Slovenia
April 2023
The seller is UNIOR d.d. Štore Steel’s revenues increased from EUR 145 million last year to EUR 190 million, while EBITDA increased from EUR 12.5 million to EUR 18 million and net profit from EUR 5.9 million to EUR 10.5 million. Currently, the company is in the middle of the largest investment in its history of EUR 24 million in a new secondary metallurgy centre. The investment will enable the company to produce a cleaner, high-strength steel as well as stainless and some tool steel. In addition to this investment, in the spring, the company is planning a new line for upgraded steel,…
Sale of BETI d.d.
April 2023
The Bank Assets Management Company (BAMC) is selling the leading European manufacturer of special dyed and technical yarns, Beti d.d.
The subject of the sales process is at least 86,7% of Beti’s equity and a majority of Beti’s financial liabilities which will be sold as a package. The equity stake is in 100% ownership of Mr. Viktor Kozjan and the claims by BAMC.
In 2020, Beti had a net loss of EUR 53 000, which is the first net loss after 2013. The company's net sales revenues amounted to EUR 7.5 million (21 percent lower than in 2019).
Reportedly, Beti felt the corona crisis…
Adria Flood and Drought Risk Mitigation System
March 2023
Establishment of a platform for efficient risk management of Adriatic Sea and related Drainage Adriatic River Basins for secure water supply and food production with emphasis on efficient risk management related to flood/drought, transport and seismic hazards.
To assure water supply and food production security in the region which is very exposed to climate change (Mediterranean) next activities are foreseen:
Establishment of a common system for hydrological monitoring in Adria River Basins with spatial database of existing infrastructure, which provides and assures secure water…
Sale of Livar
March 2023
The owners of Livar, one of the largest Slovenian foundries and the producer of ductile cast iron and mechanical processing, are considering its sale. Livar generated sales revenues of EUR 67 million last year, which represents a 22% growth compared to 2021. In addition to higher product prices, the reorganisation of the sales portfolio and the increase in the share of higher value-added machined castings contributed to this sales growth, Livar explained. Cash flow from operating activities, one of the company's key indicators of how much funds companies have left to repay loans,…
OTP Group Successfully Completes the Acquisition of the Slovenian Nova KBM Group
February 2023
OTP Group announced that it has successfully completed the acquisition of Nova KBM Group from its previous owners – financial funds managed by Apollo Global Management and EBRD – after obtaining all required approvals from the relevant regulatory authorities.
OTP was advised by Selih & partnerji. The cross-practice team was led by partners Natasa Pipan Nahtigal, Mia Kalas, Jera Majzelj, and Spela Remec, covering M&A, competition, and banking regulatory aspects.
The acquisition, the most significant in the history of the OTP Group and one of the largest in Slovenia in…
Novartis Considering Sale or Separation of Sandoz Business
August 2022
In October 2021, Novartis launched a strategic review of the Sandoz division, an important part of which is the Slovenian Lek as a development center.
As Novartis said in the press release, the review will explore all options, ranging from retaining the business to separation, in order to determine how to best maximize value for the shareholders. They will take the time to decide by the end of 2022.
Sandoz is one of the largest generics entities in the world and Novartis’ leading business unit for the development of biosimilar products. It accounts for about 18% of the overall…
