May 18 (SeeNews) - Slovenia's ‘bad bank’ plans to sell sports footwear manufacturer and retailer Alpina to Czech company K&H, it said.
K&H offered excellent conditions for the further development of the Alpina and has already presented its future plans to the management and representatives of the works council of the sports footwear manufacturer and retailer, the Bank Assets Management Company (DUTB) said in a statement on Tuesday.
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According to Slovenian media reports, K&H will acquire Alpina for 20 million euro ($21 million).
The new owner will focus primarily on restructuring and improving the areas of production, sales, relations with business partners and the further development of Alpina, DUTB said.
K&H will keep the number of employees at the same level, with the aim of improving Alpina's productivity, DUTB said.
In February, DUTB invited six companies to carry out due diligence on Alpina, of which four accepted, namely Slovenian ski manufacturer Elan, American-Austrian sports equipment maker Head, K&H and a group of Slovenian investors.
K&H offered the highest price among its competitors.
DUTB became the majority owner of Alpina in 2015. During the period of ownership, the bad bank granted the company a total of slightly less than 24 million euro in loans and enabled 20 million euro in debt-to-equity conversion.
($ = 0.9508 euro)