November 6, 2017 / 1:31 PM / a year ago

Slovenia plans to sell majority in metal products firm MLM

LJUBLJANA, Nov 6 (Reuters) - Slovenia’s state-owned “bad bank” DUTB is seeking expressions of interest from potential buyers of a majority stake in metal products maker Mariborska Livarna Maribor (MLM), DUTB said on Monday.

It said the company, which produces car parts, had revenues of about 40 million euros ($46 million) per year and more than 450 employees. DUTB has appointed consultancy Ernst&Young Svetovanje as the exclusive consultant for the sales process.

“MLM is an attractive investment opportunity as the number of new orders from established and respectable international business partners is rising constantly,” DUTB said, giving no details regarding the timing of the process, the exact size of the stake on sale or the possible price.

DUTB owns 67 percent of MLM while the state owns most of the rest of the company directly.

Slovenia attempted to sell MLM in 2016 but temporarily halted the process a year ago due to insufficient interest from investors.

$1 = 0.8628 euros Reporting by Marja Novak; Editing by Mark Potter

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