September 19, 2021

Beyond Going Long

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The state launched privatization, wants to get rid of its stakes in SADs

A state-owned company that manages stakes in many companies does not benefit from shares in bus companies.

MH Manažment, which falls under the Ministry of Economy, will sell its minority stakes in bus carriers. Tenders have already been issued in three of them.

It is a minority share package in SAD Prievidza (39.66%), SAD Humenné (32.98%) and SAD Dunajská Streda (32.79%).

According to Denisa Romanova, a spokeswoman for MH Management, the reason is the limited ability of the state to influence the strategic and operational decisions of the companies involved.

Private investors acquired a controlling stake in the former state-owned bus carriers (SAD) during the Mikulas Dzurinda governments.

The entire process of stripping citizenship at that time was accompanied by suspicions of corruption and digging tunnels.

According to the then Slovak Information Service report, some SADs were sold below market price.

In other cases, the connected people got the majority of the shares, and in some cases the money for their purchase was obtained by digging tunnels before the privatization itself.

Aktuality.sk Igor Matovich

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