Slovenia’s ‘bad bank’ will sell Alpina to Czech K&H
LJUBLJANA (Slovenia), 18 May (SeeNews) – Slovenia’s “bad bank” intends to sell the manufacturer and retailer of sports footwear Alpina to the Czech company K&H, they announced.
K&H has offered excellent conditions for the further development of Alpine and has already presented its plans for the future to the management and representatives of the workers’ council of the sports footwear manufacturer and trader, the Bank Receivables Management Company (BAMC) announced on Tuesday.
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According to Slovenian media, K&H will buy Alpina for 20 million euros (21 million dollars).
The new owner will focus primarily on restructuring and improving the areas of production, sales, relations with business partners and the further development of Alpine, the BAMC said.
K&H will keep the number of employees at the same level, with the aim of improving Alpine’s productivity, the BAMC announced.
In February, the BAMC invited six companies to conduct a due diligence of Alpine, four of which were accepted, namely the Slovenian ski manufacturer Elan, the American-Austrian sports equipment manufacturer Head, K&H and a group of Slovenian investors.
K&H offered the highest price among competitors.
In 2015, BAMC became the majority owner of Alpine. At the time of ownership, the bad bank granted the company a total of just under € 24 million in loans and enabled € 20 million in debt-to-equity conversion.
($ = 0.9508 euros)