Business News

Nomago not for sale, looking for strategic partner

Ljubljana, 26 November (STA) - Adventura Holding has denied it is selling coach company Nomago, though it acknowledged it was in talks with several possible strategic partners which would help it fulfil its ambitions plans for the company.

The privately held Adventura Holding issued the statement after a TV report suggested yesterday that national rail company Slovenske Železnice (SŽ) was interested in buying Nomago.

According to TV Slovenija, SŽ would buy half of Nomago to get hold of its coaches and routes in seven countries. The deal was said to be worth EUR 20-30 million.

"As we have explained many times before, Adventura Holding is not selling Nomago, which is our strategic investment," it said in a release on Tuesday, adding passenger transport was one of the fastest growing sectors in the world.

Adventura Holding said it had been looking for a strategic partner for several months as part of an international procedure organised by Deloitte.

"We have not yet decided with which of the investors we will jointly develop Nomago, but we can confirm that SŽ is one of the interested parties."

In choosing the strategic partner, Adventura Holding will evaluate which investor would be the best fit for Nomago's long-term development.

The holding said one option was to partner up with companies from complementary sectors and the other to attract specialised institutional investors which are focussed on the mobility sector.

It said the coach company had ambitious plans, including entering new markets in Europe and introducing new mobility services.

Adventura Holding said that after Nomago had became the leading provider of mobility and travel between Venice and Dubrovnik, the group plans to increase its revenue to more than EUR 150 million in the next five years, invest over EUR 40 million and transport more than 15 million passengers a year.

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