Publisher Delo Selling Publisher Večer on Auction

28. 02. 2014

Publisher Delo Selling Publisher Večer on Auction


Publisher Delo will make a yet another attempt to sell a 79.24% stake in publisher Večer at an auction on Friday. The 202,788 shares will be auctioned off in a package with an asking price of EUR 3.098m.


The auction comes more than four years after Delo, the publisher of Delo broadsheet, was ordered in September 2009 to sell most of its stake in Večer, also a broadsheet publisher.

 

Delo increased its stake in Večer to 79.24% in November 2008 and was ordered by the competition watchdog nearly a year later to sell at least 75% in the Maribor-based publisher.

 

 

The first attempt to sell Večer was made in 2010, when a sales contract was signed with 3Lan, a small, Murska Sobota-based company. However, the deal fell through as the Culture Ministry deemed its management strategy inappropriate.

 

In the second attempt to sell in 2012 German buyer Medici failed to get sufficient funding to buy the stake in Večer. Last year, Večer employees expressed interest in buying the stake but also failed to get enough funds.

 

Delo wants to sell Večer as soon as possible, as the competition watchdog has started imposing fines last year.

 

To take part in today's auction, potential buyers had to put down 10% of the asking price three days before the auction.

 

If Večer is auctioned off today, the deal will be pending approval by the Culture Ministry and the Competition Protection Agency.

 

Source: SloveniaTimes

 

Publisher Delo Selling Publisher Večer on Auction