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Hungarian businessman and billionaire George Soros withdraws from the Tuš purchase. Foto: BoBo

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George Soros withdraws from the Tuš purchase

6. February 2018 ob 10:06
Ljubljana - MMC RTV SLO

Hungarian businessman and billionaire George Soros withdraws from the Tuš purchase. Tuš has debts of approximately 300 million euros and the 3000 employees of this retail chain still do not know what awaits them.

TV Slovenija reported that Soros, who wanted to acquire the company through the Quantum Strategic Partners Fund, withdrew due to the future role of owner Mirko Tuš in the company.

The purchase procedure, initiated by creditor banks in 2016, is ending without having selected a buyer. None of the bidders on the short-list delivered an offer that satisfied the banks, reported web portal Siol. Tuš is said to have started negotiations with the banks and other creditors regarding a revised debt restructuring, which would enable it to repay loans at lower rates of interest. Creditor banks, including NLB, Abanka, SID banka, Gorenjska banka and Heta, are looking for a buyer of the approximately 300 million claims against Tuš.

The banks holding more than half of the claims against Tuš can now sell them individually. A compulsory settlement with high discounts or the bankruptcy of the company are also possible.

The newspaper Delo reported weeks ago that a negotiation contract between the banks and George Soros' Quantum Strategic Partners Fund regarding the purchase of the claims against Tuš has expired. They also stated that Soros was brought to Slovenia by Joc Pečečnik, who later advised him to withdraw from the purchase due to the current leadership. In the middle of last year the only buyer left in the game was the English fund Anacap Financial Partners, which, according to Delo, demanded a 60% discount for the claims. This was the reason why most of the banks withdrew from the discussions.

La. Da., MMC; translated by A. L.
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