July 30 (SeeNews) - Slovenian state holding company SDH, which coordinates the privatization process in the country, said Merrill Lynch International and Wiltan Enterprises Limited will acquire 100% of Slovenian ski equipment manufacturer Elan.
SDH said in a statement on Wednesday that the sale is conditioned on the buyers upholding the relevant labor agreements and ensuring the company's further development.
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The state holding company is the owner of 49.03% of Elan. The remaining sellers of Elan equity are Triglav Nalozbe, DSU, and Modra Zavarovalnica.
In 2013, the ski maker was placed on a list of 15 state firms earmarked for privatization.
Elan's winter division makes skis and snowboards, the marine division manufactures sail yachts and power boats while the energy division produces key components for wind turbines. Elan Inventa is the company's services brand for sports facility equipment. All of Elan’s production facilities are located in central Europe. Skis and sail yachts are produced in Slovenia and snowboards in Austria.