Unior said the transaction would be completed after several suspensive conditions have been fulfilled, including clearance from the creditors.

The value of the transaction involving 98.6% of RTC Krvavec stock has not been disclosed.

Unior acquired the debt-ridden RTC Krvavec in 2004 for about half a million euros, a transaction that made sense given that the company also owns the Rogla ski resort on Pohorje and the Terme Zreče spa.

However, the last several years Unior has been under pressure to offload its tourism assets and focus on its core tooling business.

Its tourism holding has been seen as a potential drag on the planned sale of the company by the state, which is by far the biggest shareholder through the Slovenian Sovereign Holding (39.4%) and the KAD fund (5.5%).

In November Unior spun off its tourism division into a new company called Unitour in a bid to facilitate the divestment.

Unior posted group revenue of EUR 180.7m in January-September, up almost a tenth over the year before. Net profit rose by a fifth to EUR 13.4m.

Alpska investicijska družba is a Ljubljana-based investment firm founded in August last year that is in 100% ownership of the businessman Janez Janša (no relation to politician Janez Janša).