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SSH Supervisory Board Granted Consent for Sale of SSH's Shareholding in Elan

At today's session, SSH Supervisory Board granted a conditional consent for the sale of the shareholding owned by Slovenian Sovereign Holding (SSH) in Elan, proizvodnja športnih izdelkov, d.o.o., (Elan), subject to the adoption of certain non-financial commitments on the part of the buyers: the observance of the employment relations legislation applicable in Slovenia, the observance of applicable collective agreements and other social agreements agreed with employees or the Employee Council, and the preservation of Slovenian as the language of communication with employees and an effort to retain the Company's registered office in Slovenia, the restructuring of the Company with the purpose of ensuring its further existence, the improvement of efficiency and providing for further development and retaining the social dialogue with employees in accordance with the employment relations legislation of Slovenia.

 

SSH is the owner of 49.03 % of Elan’s shareholding and has become the Company's direct holder of shares after the take-over of PDP, d.d., and its merger with SSH.

 

All shareholdings were subject to the above mentioned sale. The remaining sellers of Elan's ownership interests are Triglav Naložbe, d. d., D.S.U., d. o. o. and Modra zavarovalnica, d. d. The buyers of the 100% equity interest are Merrill Lynch International and Wiltan Enterprises Limited.

 

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