Ljubljana, 24 April (STA) - The German private equity fund Katera has published a takeover bid for Nama, the real estate operator that owns the eponymous department store in the centre of Ljubljana, Nama announced in a press release on Wednesday.
The fund has already notified the securities market and competition protection agencies and the management and representatives of Nama employees of the intention to acquire the outright stake, or 953,795 shares of the company.
Nama manages its own real estate, which comprises more than 25,000 square metres of premises in six locations, including Ljubljana's prime department store.
Its stock is listed on the Ljubljana Stock Exchange, with its price on 6 March, when the last deal with it was made, standing at EUR 15. This puts the price of its outright stake at EUR 14.3 million.
The largest single owner of Nama at the end of last year was the insurer Zavarovalnica Triglav with a 39.07% stake, followed by the cover pool subsidiary of the insurer Generali Zavarovalnica (33.19%) and Generali Zavarovalnica (15.32%).
The equity mutual fund Triglav Steber holds a 10.97% stake, and small shareholders own a combined 1.45% stake.
In 2023, Nama generated EUR 3.6 million in net sales revenue, which came almost entirely from rents, and which is 11% more year-on-year. Operating profit also increased by 11% to EUR 1.2 million.
Net profit, which includes the EUR 480,000 impairment of the investment in the subsidiary Nama In, amounted to EUR 472,000 or 32%, shows the company's official annual report for last year.
A takeover bid for Nama was last time published at the beginning of 2019 by a company controlled by a joint venture of Zavarovalnica Triglav and the German asset management firm KGAL, which valued Nama at EUR 21.9 million.
