The union-owned Delavska Hranilnica became the majority owner after it bought claims from NLB bank and converted them to equity, which helped the dairy avert bankruptcy and successfully complete debt restructuring.

The Murska Sobota-based Pomurske Mlekarne posted net sales of EUR 33.4m in 2016, the latest year for which data is publicly available, down 3% year-on-year, while net profit declined by roughly a third to EUR 1.2m.

Delo reports that Delavska Hranilnica, was forced into the sale by central bank requirements, which has long been concerned about the fast-growing savings bank's capital base.

Delavska Hranilnica would not comment on the sale procedure. The paper says that expressions of interest are due until 5 March.