The deal was signed on Monday by financial firms KD Kapital, KD Skladi, KD Group and the state-owned Bank Asset Management Company (BAMC).

The sale of the majority stake in the Slovenska Bistrica-based company will be coordinated by KD Group. The sellers will also hire a financial advisor for the procedure.

Gea is the largest Slovenian oil producer with the biggest share on the domestic market when it comes to refined, non-refined and special vegetable oils.

In the first nine months of the year, the company generated EUR 21m in net sales revenues, which is 15% more year-on-year and 18% above plans. Net profit amounted to EUR 431,000.