LJUBLJANA (Slovenia), April 23 (SeeNews) – Slovenian lignite mine operator Premogovnik Velenje said it is selling two hotels on the Adriatic coast as part of its financial restructuring plans, which include divesting of non-core assets.
In the first stage of the divestment process, Premogovnik Velenje called a tender for the sale of Hotel Barbara and Hotel Oleander with initial prices set at 3.4 million euro ($3.6 million) and 2.72 million euro, respectively, the company said in a statement earlier this week.
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Hotel Barbara and Hotel Oleander are located in the Fiesa Bay and Strunjan, respectively both in the Piran municipality on the Adriatic coast.
The deadline for sending bids is May 15.
Premogovnik Velenje said earlier it posted a net loss of 33 million euro in 2014 due to harsh market conditions but is preparing turnaround measures.
The measures include reprogramming of long-term financial liabilities, focus on the core business of coal mining, as well as divesting non-core assets and activities.
Premogovnik Velenje is also active in servicing and repairs of electric machinery, production of metal products as well as in the real estate business, among other operations.
($=0.93 euro)