Luka, Intereuropa Call Off Merger

Monday, April 03, 2000
Slovenian shipping firm Intereuropa and port operator Luka Koper canceled a planned merger because the government demanded the right to veto any management decisions in the new firm. The two companies had planned to merge on July 1. The state owns 51 percent of Luka, while Intereuropa is privately owned. The state's equity in the new company would have been 35.7 percent.

Officials said the two companies would be ready to continue merger talks if the government eased its demands.

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