SELIH & PARTNERJI Law Firm Contributes to The Lex Mundi Global Anti-Corruption Compliance Guide

Whether your team is implementing a company-wide anti-corruption compliance code or advising management on a proposed overseas investment, it is imperative that legal functions within organizations understand how relevant anti-corruption laws apply to and inform the way in which they conduct their business. The Lex Mundi Global Anti-Corruption Compliance Guide, compiled by Lex Mundi member firms from around the world, summarizes regulatory regimes in 80 jurisdictions across the Americas, APAC and in EMEA. 
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Gorenje Announces Sale of Serbian Subsidiary Gorenje Tiki

Gorenje, the major Slovenian household appliance manufacturer, announced that in the coming weeks, it will publish a call for bids for its Serbian subsidiary Gorenje Tiki, a small water heater manufacturer. Gorenje also intends to sell the Tiki brand along with the subsidiary. Gorenje Tiki is the fourth largest water heater manufacturer in Europe. Ninety percent of its products are exported to 34 countries across the globe, primarily to Germany, Austria, Croatia, and Russia. The Serbian market is the third largest and Gorenje Tiki's market share there is 40 percent. Gorenje opened the Serbian…

The New Trade Secrets Act

The new Slovenian Trade Secrets Act  was published in the Official Gazette of the Republic of Slovenia on 5 April 2019 and will enter into force on 20 April, 2019. The new Act transposes the EU Directive 2016/943 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure into the Slovenian law and brings some changes to the current definition of what constitutes a trade secret, makes a clearer distinction between the lawful and unlawful acquisition, use and disclosure of trade secrets and regulates the judicial protection in the event of violations and the conditions and circumstances for issuing the interim measures for immediate protection of business secret.

TAB Looking for a Buyer Again

According to the Finance newspaper, Nova Ljubljanska Banka is checking for interest for the successful Slovenian battery manufacturer Tovarna Akumulatorskih Baterij (TAB) again. It is not known to what which potential buyers the prospectus has been sent.

Upcoming Tender for a New Operator of Maribor Airport

In January 2019, the Slovenian airport operator Aerodrom Maribor, owned by the Chinese-controlled SHS Aviation, announced the unilateral termination of its concession deal for the Edvard Rusjan Maribor Airport. SHS Aviation, the Chinese-controlled company bought Aerodrom Maribor at the end of 2016 for EUR 7 million and signed a 15-year concession contract with the state in early 2017, committing to pay a monthly concession fee in the amount of EUR 100.000. The contract will cease to be valid after a six-month notice period, i.e. on 15 July 2019. The Slovenian Ministry for Infrastructure is expected…

The Second Railway Track from Divaca to the Port of Koper

he Divaca-Koper section is an integral part of the Trans-European Transport Network ("TEN-T network").  In accordance with EU Regulation No. 1316/2013, the territory of the Republic of Slovenia is crossed by two corridors of the core network, an integral part of which is also the Divaca–Koper line: the Baltic Adriatic corridor in the direction (Graz)–Šentilj–Maribor–Ljubljana–Koper/Trieste, and the Mediterranean corridor in the direction (Venice)–Trieste/Koper–Ljubljana–Pragersko–Hodoš–(Budapest). The importance of the Divaca-Koper line is most evident in international railway freight transport, which is understandable given the role of the Port of Koper in linking the hinterland Slovenian and European economies with countries overseas.

Various Properties for Sale by Bank Assets Management Company

The Slovenian Bank Assets Management Company (BAMC) is selling various business, industrial and residential properties, building plots and tourist facilities.

Legal Restriction of Trans Fat in Foodstuffs in Slovenia

Rules governing the maximum permitted level of trans fatty acids (trans fats) in foodstuffs were adopted in Slovenia on 19 March 2018, shortly after their reduction was included as a strategic objective of the Slovenian National Program on Diet and Physical Activity for Health 2015-2025. At the beginning of April, a 12-month transition period allowing for stock depletion will come to an end, and foodstuffs with a high trans fat content may no longer be sold.

Invitation to Tender for the Purchase of Claims Held Against the Fori Group

With the transfer of assets in 2014 from Slovenian banks, the Slovenian Bank Assets Management Company (BAMC) became a creditor of the companies TT Okroglica d.d., Fori d.o.o., Fori Skupina d.o.o., Elvel d.o.o., Emo-Tech d.o.o. (the “Fori Group”). At this point, BAMC is considering disposing of its collateralized loan exposure in the companies in the total amount of EUR 18,1 million. The deadline for submission of indicative offers is 23 April 2019 and the deadline for submission of binding offers 26 June 2019.

SELIH & PARTNERJI Advised KJK Fund on its Acquisition of Elan

SELIH & PARTNERJI Law Firm has advised the KJK Fund on its acquisition of Slovenian sporting goods manufacturer Elan from MLI (part of the Bank of America Merrill Lynch group) and Wiltan (part of VR Capital group). While merger clearances in other countries have already been obtained, the sale is still contingent on the approval of Slovenia's competition authority, and it is expected to close in mid-2019.

The Sale of Shares in Slovenian Electricity Distribution Companies

In November 2018, the minority holders of the shares in the electricity distribution companies ELEKTRO CELJE, d.d., ELEKTRO GORENJSKA, d.d., ELEKTRO LJUBLJANA, d.d., ELEKTRO MARIBOR, d.d. and ELEKTRO PRIMORSKA, d.d. formed a consortium for the joint sale of these shares. ALTA Invest d.d. and ALTA Group, d.d., have been appointed as exclusive financial advisers of the sellers. An investment teaser on the electricity distribution market and individual electricity distribution companies in Slovenia is available here. Source: ALTA

The Upcoming Trade Secrets Act

On 10 January 2019, the Trade Secrets Act was sent for consideration to the Slovenian Parliament and will have to be adopted shortly - as required by Directive (EU) 2016/943 on the protection of undisclosed know-how and business information (i.e. trade secrets) against their unlawful acquisition, use and disclosure. SELIH & PARTNERS is encouraging the companies to respond quickly and prepare for the upcoming changes by adopting appropriate internal acts or revisiting the existing internal acts in order to ensure that all important trade secrets are adequately protected.