The contract was signed on Monday and the sale is to be completed in three months given that the deal is okayed by the regulator, Adventura holding said in a press release.

Some media reports suggested that two other buyers were vying for Big Bang, which was valued at EUR 15m: Romanian electronics retailer and investment group Altex and Balfin Group financial holding.

Aleš Škerlak, the director of Adventura holding, said that the new owner would work together with the Big Bang management to overhaul Big Bang's strategy with the focus on digitalisation of operations.

He added that Adventura holding was a financial investor constantly looking for interesting investments. It invests in majority stakes in order to facilitate expansion of operations and business and financial restructuring in order to create value added.

Siol.net said in a mid-2017 article about Adventura holding that the investment firm was owned by Darko Martin Klarič, one of the richest Slovenians and the owner of Media Publikum, the biggest add agency in the country.

Big Bang was founded 25 years ago and now operates 18 retail stores across the country and is also involved in wholesale and online sales.

Employing more than 370 people, it reportedly generated EUR 128.6m in revenue last year and made EUR 4m in gross operating profit. This compares to EUR 115.9m in revenue and EUR 3.1m in EBITDA the year before.