Metropolitana, a company owned by the Ljubjana Archdiocese has succeeded in its bid to take over Gozdno gospodarstvo Bled, the company that manages forests around the lakeside resort town of Bled.
After Metropolitana acquired a 76.18% share in Gozdno gospodarstvo Bled on the basis of a public bid open until mid-October, it has now also purchased a 20% share from the state-run Pension Fund Management (KAD) and Restitution Fund (SOD).
According to Friday, 3 November's press release from SOD, the two funds signed a contract with Metropolitana selling it their respective 10% shares in the forestry at the price offered in the takeover bid, i.e. SIT 2,650 (EUR 11.06) per share. This means that the two state-run funds will get a combined SIT 324m (EUR 1.35m) for their stakes.
The press release says that SOD will use the money to repay denationalisation claims in line with its responsibility under the law, while KAD is to invest it to cover the pension purse deficit and restructure its portfolio.
The two funds opted for the sale due to changes in the ownership structure of the company and in line with their plans to gradually withdraw from companies.
By the time its offer ran out, Metropolitana purchased the 25% share held by Gozdno gospodarstvo employees as well as other major owners. The takeover bid had the blessing of the company's management.
As the owner of a large chunk of the woods in NW part of Slovenia, the Ljubljana Archdiocese said it wanted to act responsibly with the land that was once in the hands of the Church.
Gozdno gospodarstvo Bled is already working on behalf of the Archdiocese in the parts of the woods around Bled which have been given back to the Church as part of ongoing denationalisation proceedings.
The work with the Church accounts for up to 10% of all the company's operations. However, this is likely to increase, as the Church stands to become the owner of 85% of the woods in the area if all its denationalisation claims are upheld.