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Schoenherr Advises on Privatization of Ljubljana Airport

Schoenherr has advised the consortium of shareholders of Aerodrom Ljubljana -- headed by the Republic of Slovenia and the Slovenian Sovereign Holding (SDH) -- on the privatization of Slovenia’s primary airport in Ljubljana.

Under the  September 5 respective share purchase agreement the selling consortium signed with Fraport AG, the Frankfurt Stock Exchange-listed airport owner and manager will pay EUR 177.1 million for a 75.5% stake in Aerodrom Ljubljana.

The completion of the transaction is subject to merger control clearance by the Slovenian Competition Protection Authority. 

In 2013, the Aerodrom Ljubljana airport — also known as Joze Pucnik Airport -- welcomed about 1.3 million passengers, up from 1.2 million in 2012.  

As part of the privatization process, Fraport intends to acquire 100 percent of the Ljubljana airport management company, and thus will, after completion of the transaction, submit a takeover bid to the remaining shareholders, in accordance with legal and statutory requirements.  

In addition to the Republic of Slovenia and SDH, the selling consortium consisted of Kapitalska druzba, Zavarovalnica Triglav, KD Skladi, druzba za upravljanje, AlpenInvest, druzba za upravljanje investicijskih skladov, Modra Zavarovalnica, and Abanka Vipa.  

Partner Marko Prusnik, who led the Schoenherr team on the matter along with Roman Perner, said of the deal that: “We’re honored to have been able to advise the shareholders of Aerodrom Ljubljana on this interesting, but challenging transaction. The outcome of this structured bidding process is not only a positive indicator for Slovenia’s privatization efforts, but also stands out on account of the high earnings multiples reflected in the purchase price.”

Schoenherr’s core team consisted of Prusnik and Perner, Attorney Eva Skufca, and Associates Jurij Lampic and Jelena Malnar.  

Fraport was advised by the Ljubljana law firm Jadek & Pensa.

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Last modified onThursday, 07 January 2016 16:23
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