Following unsuccessful talks with Saray Matbaacilik Kagitcilik,
Double A and Oberthur Technologies in 2012, insolvency administrator Borut Soklič is again negotiating the sale of Slovenia's security paper mill Radeče papir.
A new potential buyer appeared on the scene for Slovenia's insolvent security, banknote and graphic paper manufacturer Radeče papir. The office of administrator Borut Soklič explained that an auction that was scheduled for Radeče's subsidiary Muflon on 3 September was cancelled because a possible investor had signaled an interest in buying both entities.
Radeče papir has two paper machines with a capacity of 7,000 tpy of security paper and 30,000 tpy of uncoated woodfree paper (UWF). Radeče papir's converting subsidiary Muflon produces and distributes self-adhesive labels, release liners, laminated papers and office and school stationery products with an annual capacity of 20 million m².
Negotiations with the potential investor might be wrapped up as soon as the end of September, it is learnt. The creditors' committee is to subsequently decide about the bid. The insolvency administrator's office did not state who the new bidder was nor how much was offered for the assets.
Slovenian media reports suggest that the new potential buyer is Emkaan, a Dubai-based investment firm. In an interview with Slovenian media, the insolvency administrator did not comment on the proposed purchase price, but simply said that it was higher than the initial bid. All of Muflon's assets were due to go on the block at a starting price of €100,000. The starting price for Radeče papir is set at €2.5m.