Istrabenz Explained

Istrabenz
Type:	public company
Foundation:	1948
Location:	Koper, Slovenia
Key People:	Igor Bavčar, CEO
Num Employees:	4,722 (2007)
Revenue:	US$941 million (2007)
Industry:	Conglomerate
Homepage:	www.istrabenz.si

Istrabenz is a Slovenian holding company, one of the largest in Slovenia with a total of 73 companies under its management.

Activities

• Food (24 companies): Droga Kolinska d.d., Grand Kafa AD Beograd, Štark AD Beograd, Palanački Kiseljak AD Smederevska Palanka
• Investments (10 companies)
• Tourism (8 companies): Istrabenz Marina Invest d.o.o., Istrabenz Turizem d.d. Portorož, Marina Koper d.o.o., Istrabenz Hoteli d.o.o. Portorož, Imperial Palace d.o.o.
• Energy (18 companies): Instalacija d.o.o. Koper

History

Istrabenz entered the Ljubljana Stock Exchange in 1997.^[1]

Istrabenz financed the growth of Openad until the holding ran out of cash in 2008.^[2]

From 2002 to 2009, the company was headed by Igor Bavčar, Slovenia's former interior minister.^[3] In September 2009, Igor Bavčar was detained on suspicions of corruption and money laundering while he was head of Istrabenz.^[4]

In July 2010, Istrabenz sold major food manufacturer Droga Kolinska to Atlantic Grupa for €382 million.^{[5] [6]}

In September 2015, Istrabenz sold the Kempinski Palace Portorož for $25 million.^[7] In March 2016, Istrabenz Turizem sold the Grand Hotel Adriatic in Opatija to Croatian company Teri-trgovina as part of a disinvestment program.^[8]

In June 2016, Istrabenz sold the remaining 51% it held in Istrabenz plini (gas subsidiary) to Italian .^[9]

External links

• Company website

Notes and References

1. Web site: Elements acquires debt claims of Istrabenz Holdings. Elements-capital.com. June 2015. 2016-07-06.
2. Web site: How Business Leaders Can Use Fatigue And Depression To Their Advantage. Forbes.com. 5 November 2014. Andrew Cave . 2016-07-06.
3. Web site: Maratonska seja zaključena: Igor Bavčar odstopil z mesta predsednika uprave Istrabenza. Dnevnik.si. 31 March 2009. Primož Cirman. sl. 2016-07-06.
4. Web site: Slovenian police detain two former managers on corruption charges. Topnews.in. 9 September 2009. Sukhpreet Manchanda. 2016-07-06.
5. Web site: Profile: Atlantic Grupa. Ft.com. 6 December 2010. Neil MacDonald. 2016-07-06.
6. Web site: Droga Kolinska je last hrvaškega Atlantic Grupa. Mladina.si. 1 July 2010. 2016-07-06.
7. Web site: Portoroški hotel Kempinski prodan za 25 milijonov evrov. Rtvslo.si. 11 September 2015. sl. 2016-07-06.
8. Web site: Slovenia's Istrabenz unit completes sale of Grand Hotel Adriatic Opatija to Croatian company. Seenews.com. 29 March 2016. 2016-07-06.
9. Web site: Istrabenz offloads gas subsidiary. Sta.si. 13 June 2016. 2016-07-06.