January 6 (SeeNews) - The Bank Assets Management Company (BAMC), Slovenia's 'bad bank' has sold its 30.62% stake in the share capital of local chemicals producer Melamin [LJSE:MKOG] to Austrian company Panta Rhei Beratungs, Melamin said.
The Austrian buyer increased its stake in Melamin to 33.29% through the purchase, thus exceeding the 30% threshold for the launch for a mandatory takeover bid for Melamin, the chemicals company said in a filing with the Ljubljana Stock Exchange earlier this week.
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The price of the deal was not disclosed.
Slovenian biotechnology company AbPhage holds a 90% stake in the capital of Panta Rhei Beratungs, Melamin said.
BAMC became the largest shareholder in Melamin in 2020 by taking over the stake of 30.62% owned by insolvent Ljubljana-based NFD Holding.
Melamin recorded a net profit of 2.2 million euro ($2.5 million) in the first half of 2021, up 88% on the year, while net sales revenue went up 43% to 32.3 million euro, according to the most recent data available.
($ = 0.88453 euro)