Business News

Financial Firm Moves to Acquire Operator of Vogel Ski Resort

Ljubljana, 19 April (STA) - Financial firm KD Kapital announced Monday a takeover bid for Zicnice Vogel Bohinj, which operates the Vogel ski resort in northwestern Slovenia, worth just shy of EUR 1m.

KD Kapital already owns 40.79% of Zicnice Vogel Bohinj stock and is offering EUR 1.65 per share for the remaining shares in an offer that runs until 12 May.

The company says the planned acquisition is a long-term financial investment. It does not plan any restructuring or layoffs at the target company.

Zicnice Vogel Bohinj operates ski lifts at Vogel and five eating establishments in the resort.

It posted sales of EUR 2.5m for 2009, down 6% over the year before, and ended with a net loss of EUR 171,000, down from EUR 266,000 a year earlier.

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