Business News

Majority Stake in PUR Foam Maker TKK on Sale

Ljubljana, 07 June (STA) - The Abanka bank and construction materials company Salonit Anhovo have called an auction for 17 June to sell their combined 92.5% stake in polyurethane foam maker TKK Srpenica, one of Europe's leading companies in the field.

Abanka will sell a 62.3% stake in TKK, which is based in Srpenica in western Slovenia, seized from the Church-owned Zvon ena and Zvona dva holdings, which are in receivership. Salonit Anhovo is selling a 30.2% stake.

The sellers welcome all domestic and foreign individuals and legal entities to participate in the auction. Potential bidders must deposit a EUR 2m guarantee with Abanka by Thursday.

TKK Srpenica is one of the leading European makers of polyurethane foam and makes other products for use in construction, including concrete additives, mortar and sealants. The company's revenues amounted to nearly EUR 40m in 2011, of which 80% was exports.

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