Koper, 03 March (STA) - Operator of Slovenia's sole port Luka Koper offloaded on Monday its stake in Romanian company Trade Trans Terminal that operates the general cargo terminal at the port of Arad. Luka Koper at the same time became the sole owner of Adria Terminali, which manages the logistics hub in Sezana.
Luka Koper said on Wednesday it decided to sell the stake in the Romanian company because the terminal did not fulfil its expectations. The 17% share was bought by Trade Trans Log, a subsidiary of Slovakian company Trade Trans Invest (TTI) that also owns a stake in the terminal.
The company meanwhile reacquired a 49% stake in Adria Terminal. The company made this step because of the strategic policy of managing independently the hub which plays a central role in its strategy on hinterland terminals.
Luka Koper established Adria Terminali in 2007. After acquiring a 10% stake in TTI, it sold a 49% stake to Slovakian company Spedition Trade Trans Holding, expecting positive effects of synergy.
Luka Koper refused to reveal how much the 49% stake in Adria Terminali cost or how much it got for the stake in Trade Trans Terminali, saying however that the value of the stakes was similar.
The 10% stake in TTI cost EUR 25.8m at the time, while the value of the investment currently stands at some EUR 5m.