State to sell stake in Slovenian Steel Group

The Slovenian government has announced the opening of the tender to sell its 55.3 percent stake in Slovenian Steel Group (SIJ). Buyers that wish to participate in the tender have to submit their offers by November 20, 2006. Marija Zagorez, head of the commission overseeing the tender process, stated that the value of the stake had already been appraised but would not be revealed. Slovenia's government owns 80.35 percent of nominal shares in SIJ and intends to keep 25 percent plus one share in it. However, the state is also strongly encouraging other investors to sell their stakes in the enterprise. Slovenian Steel Group consists of 14 companies which specialize in the production of high-end flat products, as well as in high-speed steels and certain special and construction steels.