October 22 (SeeNews) - Slovenian blue-chip hand tools manufacturer Unior [LJE:UKIG] agreed to sell a land plot and production hall in Maribor to local company Stark for 8.5 million euro ($10 million), it said on Thursday.
Unior incurred a 4.3 million euro loss from the transaction as the sale price was lower than the estimated value of the assets, the company said in a filing with the Ljubljana Stock Exchange.
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The company had obtained a property appraisal and the consent of its supervisory board and creditors for the sale of the assets, which have a combined footprint of 31,529 square metres, Unior said.
By selling the assets, which were defined as unnecessary for the business of Unior, the company fulfills the commitments given to creditor banks in accordance with a syndicated loan signed in 2016.
($ = 0.8434 euro)