Reuters logo
Slovenia agrees second selloff for reported $25 mln
January 30, 2014 / 3:05 PM / 4 years ago

Slovenia agrees second selloff for reported $25 mln

LJUBLJANA, Jan 30 (Reuters) - Slovenia has sold the second public company from a list of 15 state assets slated for privatisation for a reported 18 million euros ($25 million), as part of efforts to revive its economy after narrowly avoiding an EU/IMF bailout last year.

Fotona, a developer of medical and military laser gear, was sold to U.S. firm Gores Laser Holdings LP, a unit of Gores Group, LLC, together with a company called Technology4Medicine.

Having scraped together funds to bail out its banks last month, Slovenia is selling assets once considered sacrosanct by many Slovenians who, unlike some other parts of ex-communist eastern Europe, have mostly resisted Western capital after the end of the Cold War.

More than a dozen other companies are on the block, including Telekom, the biggest telecom group, Ljubljana airport, flag carrier Adria Airways and No. 2 bank NKBM. Already sold is paint and varnish producer Helios.

Technology4Medicine already distributes Fotona’s products in the United States, Uros Krizanec, a lawyer representing T4Med, told Reuters.

State fund PDP, which owns around 70 percent of Fotona, confirmed the sale but gave no financial details. Local newspapers said the company was sold for 18 million euros after a final bidding round on Thursday, which also involved private equity fund Alpe-Adria-Balkan. (Writing by Zoran Radosavljevic; Editing by David Holmes)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below