LJUBLJANA (Slovenia), March 25 (SeeNews) – A Bosnian businessman and an Italian fund have submitted binding bids in a tender for the acquisition of a majority stake in Slovenian manufacturer of car components Cimos Group, local media reported.
Nijaz Hastor, owner of the ASA Prevent Group, and Verona-based fund Palladio Finanziaria are the sole bidders in the tender, news broadcaster RTVSLO said on Thursday.
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According to the broadcaster, Hastor in February informally offered to pay 200 million euro ($223.3 million) for the entire company.
The shareholders of Cimos - Slovenia's 'bad bank' DUTB (47.5%), the Slovenian government (24.26%) and lenders NLB (9.44%), Gorenjska Banka (5.74%), Abanka Vipa (2.42%), Nova KBM(2.2%) and SID Banka (0.74%) – said earlier they are considering selling a combined 92.3% of the company's shares.
Cimos is currently in the process of restructuring, as apart from weak business performance the company is faced with a lawsuit over outstanding debt to a Croatian bank.
In June the European Commission approved the company's restructuring plan, saying it will allow it to become viable again in the long-term without needing further state support and without unduly distorting competition in the single market.
The Koper-headquartered group manufactures mainly turbo compressor and turbine housings, power train components, chassis and car-body parts. Cimos has a production footprint in four countries across Southeast Europe.
($=0.895574 euro)