Business News

State Soon to Have Another Go at Selling Paloma

Ljubljana/Sladki Vrh, 25 September (STA) - Supervisors of tissue maker Paloma confirmed for the STA on Wednesday that the state will soon have another go at selling this financially troubled company. According to the media reports, at least three companies have expressed interest in buying Paloma, including Serbian sanitary equipment maker Drenik ND.

Chief supervisor Boštjan Gorjup would not go into detail, saying that the company had only recently received written instructions on the sale and recapitalisation procedures from the owner.

Slovenian and Serbian media has recently reported that there is interest in Paloma. According to the Serbian daily Večernje novosti, Drenik ND will almost certainly make a bid to acquire the Slovenian company.

The Slovenian daily Dnevnik has also mentioned as interested buyers Slovak Hygienic Paper (SHP) and an unnamed Italian company.

The company is operating in the black after posting a EUR 453,000 operating loss last year. In the January-July period this year, it generated EUR 47.6m in net sales revenues a EUR 200,000 operating profit.

The Alenka Bratušek government has listed Paloma as one of 15 companies slated for the upcoming first round of privatisation.

Attempts to sell the company were made before, and the search of a strategic partner failed in 2011.

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