Business News

Majority Stake in Adhesives Producer Aero for Sale

Ljubljana, 03 June (STA) - The state-run PDP restructuring fund and Probanka, a small private bank, published on Friday a call for expression of interest for a combined 55% stake in adhesives and coatings maker Aero. The call is open until 8 July.

The share capital of Celje-based Aero stands at EUR 5.8m, with PDP and and Probanka holding 32.6% and 22.4%, respectively.

The sale of the entire package held by the two firms will proceed in two stages, starting with the expression interest and a call for non-binding bids and followed by a call for binding bids for selected investors.

PDB and Probanka reserve the right not to select any of the bidders and to not commit themselves to any sale cooperation agreements with investors, the press release published in business daily Finance says.

Aero generated a net loss of EUR 2.5m on EUR 37.4m in net sales revenues in 2009, according to the consolidated operating report for the year, the latest available data.

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