October 19, 2017 / 3:52 PM / a year ago

Slovenian cbank fines Sava over Gorenjska Banka -sources

LJUBLJANA, Oct 19 (Reuters) - The Bank of Slovenia imposed a 500,000-euro ($590,750) fine on finance and tourism company Sava for failing to sell its stake in Gorenjska Banka, banking sources said on Thursday.

The central bank and Sava refused to comment.

The Bank of Slovenia ordered Sava in 2015 to sell its stake in Gorenjska within 6 months, saying indebted Sava "does not have the financial strength to give Gorenjska Banka and its business the financial support it needs".

Sava has so far not sold the stake although it has formed a consortium of shareholders which together aim to sell about 55 percent of Gorenjska. Sava is the largest shareholder in Gorenjska with a 37.7 percent stake.

Under Slovenian legislation, Sava would only have to pay half of the fine providing the payment is made within eight days of receiving the central bank's decision.

Serbian AIK bank is the second largest owner of Gorenjska with 21 percent and is bidding to acquire a majority.

Local media have said U.S. investment fund Apollo Global Management is also seeking to take over Gorenjska but shareholders hoped the two bidders would raise their offers.

AIK's bid would value the whole bank at 110.6 million euros while Apollo's put it at 91.2 million euros, media said. AIK and Apollo refused to comment on their bids.

$1 = 0.8464 euros Reporting by Marja Novak; editing by Mark Heinrich

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