Czech government to sell stake in Slovenian paper business

Friday, May 22, 2015

The Czech Ministry of Finance has published a call to sell its 96.5% stake in Slovenian paper producer Vipap Videm Krško. The remaining 3.5% of the shares are owned by the manufacturer itself.

Potential bidders are to apply by June 1. The Czech-based subsidiary of consultancy firm Ernst & Young (EY) has been chosen as the financial advisor in the planned transaction, reports local daily Slovenia Times.

The company says the main raw material it uses is recycled fibre obtained from recovered paper in a deinking process. The Czech state has served as the firm's majority shareholder since 1996, and in 2008, its shares were transferred to the Finance Ministry.

Vipap Videm Krško has an annual output capacity of up to 140,000 tonnes of standard and improved newsprint, and up to 70,000 tonnes of graphic papers.

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