The two funds retained a controlling share in 2007 when they sold almost

30% in Splošna plovba to German shipping magnate Peter Döhle, but the

contract included a put option allowing them to offload their remaining

share to Döhle by the end of 2012 under the same conditions.

They

decided to exercise this right in the light of their financial obligations

and after a public call for bids in January this year failed to produce

higher bids for the shares.

The funds have been stressing since last

week that they had little benefit from the company's profit and that the

sale was needed to optimise their cash flows.

Infrastructure and

Spatial Planning Minister Zvonko Černač voiced the belief on Tuesday that

a $wise decision$ would be taken at the end between a good

bargain that would be lost after 2012, and Slovenia's strategic interest to

make sure the company stays in the country.

Splošna plovba chairman

Egon Bandelj told the STA today that he was strongly against the sale of

the controlling stake, which he believes will cause irreparable damage for

Slovenia.

The Capital Assets Management Agency (AUKN) said it would

not take positions about the sale, adding that Slovenia had still not

adopted a capital assets management strategy and that it was still unclear

how SOD would cover its financial obligations in the long run.