... shareholder control over 75% of the company. Most recently there has been a growing trend in Slovenia of shareholders consolidating their positions3 with a view of a possible takeover in the key blue-chip companies such as, MERCATOR4, and PIVOVARNA LAŠKO5 where the fund INFOND owns 25% and 24.91% respectively. Laws and regulations The Slovenian company law is generally tied to the general inter-EU legislations6, such as Securities Market Act (1999), Mergers and Acquisition Act (1997), the Dematerialized Act (1997) and the new Investment Funds Act (2002). The corporate regulations7 mean that the companies are split into two groups, the limited liability companies (d.o.o) and the joint stock companies (d.d), and only the d.d may issue shares and therefore be listed on the LSJE. Share consolidation by owners could be explained in terms of poor legal protection8 with regards to minority shareholders and principal-agent problem in Slovenia. This is where the dispersed ...

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