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Failed Capital Injection Puts Terme Olimia at Risk, Says Finance

Ljubljana, 18 June - Blaz Miklavcic, chairman of Slovenian Railways, went too far. The Railways, the biggest owner of spa Terme Olimia, voted against the supply of fresh capital to the spa. Terme Olimia intended to use the fresh capital to purchase Croatia's Tuheljske toplice. The spa will lose SIT 120m (EUR 513,800) of down payment, which is a little more than the company's net profit in 2002. Its very existence has also been put at risk, writes Wednesday's Finance.

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