Slovenia’s Pivovarna Lasko Investors Reject Capital Increase

Shareholders of Pivovarna Lasko (PILR) Group d.d., including the single largest owner, Nova Ljubljanska Banka d.d., rejected a proposal for a capital increase of as much as 36.5 million euros ($46 million).

The Slovenian drinkmaker wanted to sell 8.7 million new shares at 8 euros apiece as it sought to strengthen its capital base, the Lasko-based company said in an e-mailed statement today.

Pivovarna Lasko, which in April agreed to delay about 160 million euros in loan payments to banks in Slovenia, is the largest shareholder of Mercator Poslovni Sistem (MELR) d.d., the biggest store chain in the Balkans. The sale fell through several times after officials in the country said it would harm the local food industry.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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