March 26, 2010 / 9:03 AM / 9 years ago

Istrabenz may sell food company Droga Kolinska

LJUBLJANA, March 26 (Reuters) - Slovenia’s energy, tourism and food group Istrabenz (ITBG.LJ) is considering selling its food production unit Droga Kolinska, Istrabenz said in a statement on Friday.

It will decide whether to sell the unlisted company after receiving non-binding bids, which are due by the end of April. French bank BNP Paribas (BNPP.PA) will be its consultant in the process, it said.

Istrabenz declared insolvency last year but reached a deal with creditors in January to repay its debt of 471 million euros ($627.8 million) by the end of 2013.

Istrabenz owns 89 percent of Droga Kolinska, which posted a group net profit of 6.2 million euros ($8.26 million) in 2008 on sales of 387.8 million. The company has production units in Slovenia, Serbia, Bosnia and Croatia. ($1=.7502 Euro) (Reporting by Marja Novak, Edited by Zoran Radosavljevic and Hans Peters)

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