Elan Sports in difficulty looking for a buyer

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Skis and Bindings

Elan Sports in difficulty looking for a buyer

After losing to CAPiTA Snowboards production site Fürnitz, Austria, opens another difficult period for Elan Sports, the Slovenian company that was bought in 2000 by the local government and that in addition to the crisis last year had facing a severe financial penalty imposed by the European Union to support illegal by the institutions.

This week the shareholders of Elan Sports have published an invitation to tender for the privatization of the company, who live in conditions of economic difficulty. Elan, a company majority-owned subsidiary of the state, has been on sale for several years, and now the search for a shareholder who introduce new money seems to have become even more pressing. The owners expect this action to find funds in the financial world for at least 15-20 million euro. Priority will be buyers interested in buying the whole company. If you were to riescontrare a lack of interest from the market, the owners will be geared to the sale of individual departments within the company. According to observers of the Slovenian press, the three sisters separated Elan Skis, the division that deals with the construction of boats Elan Marine and division that deals with domestic equipment Elan Inventa, they could more easily find a compratore.Nell 'April, the sale to the British investment fund Argus Capital seemed a done deal, but the bottom then pulled back his offer. According to media reports, the draft agreement provided for the payment of one million euros for the majority stake in Elan and additional € 15 million to recapitalize the società.Elan in urgent need of fresh capital to repay the state aid the company has received in the form of a capital injection of € 10 million in 2008. These must be made available to the European Commission and then returned to their owners. With interest the new owner will have to pay € 11.5 million and the remaining money will be used for the recapitalization and to pay suppliers.
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