The Slovenia Times

Ring Completes Helios Takeover

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Running between 28 April and 28 May, the takeover offer was accepted by 1,325 shareholders holding a total of 60,090 shares, according to a press release published in today's edition of the daily Delo.

The bidder offered EUR 520 per share, which means it paid EUR 31.25m for the stake. The company previously held 77.93%, most of which from a EUR 106m deal struck with a consortium of mostly state-owned sellers.

Helios was one of the 15 companies on the government's priority list for privatisation. Apart from it, laser manufacturer Fotona has been sold already as well.

The bulk of Helios ended up with banks after the Maribor Archdiocese-related financial Zvon holdings went into receivership in early 2012.

The Dom┼żale-based group employs a staff of around 2,200 in more than 30 companies in 17 countries. Last year it generated sales revenue of EUR 316m.

Ring owns another company in Slovenia, having acquired the ┼Żelezniki-based metal stationary products manufacturer Niko in 2008.

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