Krvavec Ski Resort Sold for a Rumoured 1 Million Euros

By , 10 Apr 2018, 11:24 AM Business
Krvavec Ski Resort Sold for a Rumoured 1 Million Euros

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Alpska investicijska družba is the buyer. 

STA, 10 April 2018 - The company operating the Krvavec ski resort north of the capital Ljubljana has been sold to Alpska investicijska družba, an investment firm, for an undisclosed sum almost half a year after the deal was first announced.

Unior said Tuesday the transaction had been completed and the 98.6% RTC Krvavec stake transferred to Alpska investicijska družba.

The value of the transaction has not been disclosed, but media reports suggest it is just over a million euro.

The transaction was first announced in December 2017 but had been delayed amidst rumours that Alpska investicijska družba would immediately put up RTC Krvavec as loan collateral.

RTC Krvavec therefore raised the question of whether the company itself would in effect pay for the takeover. Alpska investicijska družba however said this concern was unfounded.

Unior acquired the debt-ridden RTC Krvavec in 2004 for about half a million euros, a transaction that made sense at the time given that the company also owns the Rogla ski resort on Pohorje and the Terme Zreče spa.

However, the last several years Unior has been under pressure to offload its tourism assets and focus on its core tooling business.

You can read more about the Kravec ski resort here.

Its tourism holding has been seen as a potential drag on the planned sale of the company by the state, which is by far the biggest shareholder through the Slovenian Sovereign Holding (39.4%) and the KAD fund (5.5%).

In late 2017 Unior spun off its tourism division into a new company called Unitour in a bid to facilitate the divestment.

Alpska investicijska družba is a Ljubljana-based investment firm founded in August last year that is controlled by the businessman Janez Janša (no relation to the politician Janez Janša).

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