By: Vida Kocjan
These days, false information about the sale of state-owned companies is once again spreading online. It is further fuelled by lies from the Ninamedia agency, owned by Nikola Damjanić. The agency is conducting a poll, of course, against Janez Janša, the leader of the largest political party in Slovenia, currently in opposition.
In a poll that focuses on the question of the greatest concern about Janša, respondents are also presented with a claim about safeguarding national interests (once again invoking Kučan’s phrase) and the sale of key companies to foreigners “at low prices.” Among those mentioned are Mercator, NLB, and several others.
But the facts are entirely different from what representatives of the transitional left are trying, and will continue in this pre‑election period (with elections expected in March next year), to “sell” to the public.
The fact is that Nova Ljubljanska banka (NLB) was sold to foreigners, namely the Belgian group KBC, by the government of Anton Rop (2002–2004).
Mercator was sold in 2014 to the Croatian Agrokor by the government of Alenka Bratušek (2013–2014).
A review of state‑company sales shows the following:
– The government of Borut Pahor (Nov 21, 2008 – Feb 10, 2012) did not sell any state‑owned company. Much was said about the planned sale of Petrol and Krka, but nothing was sold.
– The government of Janez Janša (Feb 10, 2012 – Mar 20, 2013) did not sell any company.
– The government of Alenka Bratušek (Mar 20, 2013 – Sept 18, 2014) immediately prepared a list of 15 companies for sale, approved by her cabinet in May 2013, clearly prepared in advance by the circles that installed her.
The list included: Adria Airways, Aero, Elan, Fotona, Helios, Aerodrom Ljubljana, Adria Airways Tehnika, Nova Kreditna banka Maribor (NKBM), Telekom Slovenije, Cinkarna Celje, Gospodarsko razstavišče, Paloma, Terme Olimia, Unior, and Žito.
The first company sold was Helios (Domžale), in October 2013, for €170 million to Austria’s Ring group, which resold it within a year to Japan’s Kansai Paint.
Fotona (Ljubljana laser manufacturer) was sold on Jan 30, 2014, to US firms Gores Group and Technology4Medicine, later resold in 2015 to the China‑Europe fund Agic Capital.
In June 2014, the state stake in Letrika (Šempeter, electromotors) was sold to Mahle.
In June 2014, Mercator was sold to Croatia’s Agrokor (Ivica Todorić) for €172 million. Todorić was a close friend of Zoran Janković; Bratušek was his ally and collaborator.
After Bratušek’s government ended, her privatisation agenda continued under Miro Cerar (Sept 18, 2014 – Sept 13, 2018), with Bratušek’s SAB party as part of the coalition.
The government of Miro Cerar, from September 18, 2014 to September 13, 2018:
In early November 2014, Aerodrom Ljubljana was sold to the German company Fraport. In April 2015, Žito was sold to Croatia’s Podravka.
Nova Kreditna banka Maribor (NKBM), the second-largest state-owned bank, was sold on June 30, 2015 for €250 million to the American fund Apollo, which later resold it. Before that, Bratušek had recapitalised NKBM with taxpayer money.
At the end of July 2015, Elan from Begunje was sold to the Americans: 95 percent was bought by Wiltan Enterprises Limited, wholly owned by Russia’s VR Global Partners, and the remaining 5 percent by Merrill Lynch International, owned by Bank of America Merrill Lynch.
At the end of November 2015, Adria Airways Tehnika was sold to the Poles, purchased by Linetech Holding.
At the end of January 2016, Adria Airways itself was sold to the German investment fund K4 Invest. Before the sale, the government recapitalised Adria with more than three million euros.
Cimos was sold for €100,000 on October 14, 2016, to the Italian financial fund Palladio Finanziaria.
Paloma from Sladki Vrh was sold on February 24, 2017, to Slovakia’s Eko-Invest.
They also attempted to sell Telekom Slovenije, but failed.
Before the June 2018 elections, the then governing coalition’s privatisation list still included 12 major state-owned companies: Abanka and Gorenjska banka, as well as gaming companies Casino Portorož, Casino Bled, and Hit. Also on the list were Cetis (Celje), Geoplin, Unior (Zreče), Inkos, Intereuropa, Savaprojekt, Varnost sistemi, KDD, M1, and a stake in NLB.
So when representatives of the transitional left and their allies today speak about who sold what and who intends to privatise state assets, while pointing fingers at others, it is worth remembering all of this.