The decision was issued on Thursday, the AVK said in a press release on Monday.

The purchase is set to be complete in the summer. The sale was announced last spring after Wiltan detected interest from potential buyers as the company posted good results.

Since acquiring it, Wiltan has invested nearly EUR 10m in the company.

The new owner was established last year with EUR 250m in private capital. It focuses on investments in the Balkans and the Baltic states and is already present in Slovenia with investments in several companies.

Elan, located in Begunje na Gorenjskem, specialises in skis, high-tech equipment components, high-performance sail boats and innovative solutions for arenas and stadiums.