The agreed price was set at EUR 3.6m, but as the new owner will also take on all liabilities of the two acquired companies, Gorenje reduced its debt by EUR 6.5m.

The sale comes after all preconditions from the August 2015 agreement were met, the household appliance maker said in a press release posted on the Ljubljana Stock Exchange website.

HIS, which had already held 35% of Publicus stock before the new acquisition, will now be the sole owner of the company managing waste in several SW municipalities.

Publicus covers 57,000 households and all companies and public institutions in Postojna, Pivka, Kamnik and Komenda.

The supervisory board of Gorenje already approved the divestment in July last year.