KPMG invites expression of interest in Ljubljana airport

LJUBLJANA, March 20 Thu Mar 20, 2014 8:29am EDT

LJUBLJANA, March 20 (Reuters) - Consultancy firm KPMG called on Thursday for expressions of interest in buying 75.5 percent of Slovenia's main airport Aerodrom Ljubljana.

Aerodrom, with market capitalisation of 75.6 million euros, is one of 15 firms the government earmarked for sale last May to boost budget income and improve corporate governance, as it struggles with a prolonged recession.

The government and its companies hold some 70 percent of Aerodrom and have chosen KPMG as a financial adviser in the sale, which is expected to be completed by September.

"The airport is profitable and is not indebted. Considering its geographic position and modern infrastructure with a possibility of expansion..., it represents a unique investment opportunity," KPMG said in an announcement published in daily paper Finance.

It gave no deadline for the bids and declined to give further comment.

So far two of the 15 firms have been sold - industrial coatings producer Helios and Fotona, a developer of medical and military laser gear.

Economy Minister Metod Dragonja said on Tuesday the largest company on the list, telecom operator Telekom, is also expected to be sold by the end of this year.

Slovenia injected some 3.3 billion euros in local banks in December, narrowly avoiding an international bailout after local banks, mostly state-owned, accumulated large amounts of bad loans through years of reckless lending. (Reporting By Marja Novak; editing by Zoran Radosavljevic and Mark Heinrich)