The Aliso Viejo, California-based firm acquired two wholly owned subsidiaries, Metanol and Rezervoarji, as well as a 49% stake in the firm Industrijske storitve.

The assets were on sale as a group along with outstanding claims to unspecified counter-parties worth over EUR 3m.

There was only one other bidder, the German firm GIM Export Group, but the US bidder snatched the assets in the first round of price lowering.

United States Methanol Corporation CEO Brad G. Gunn told reporters he was "very glad" to have won the auction.

He said the company would provide additional information about its plans after the sales agreement is signed.

But he stressed that he planned to keep the production in Lendava, allaying fears by locals that buyers would likely just buy the equipment and relocate production.

The assets sold are no longer going concerns. They have a handful of employees performing winding-down tasks and generate almost no revenue.

Nafta Petrochem, the key subsidiary of the holding company Nafta Lendava, entered receivership a year ago.

The holding company, which is wholly state-owned, has been undergoing restructuring for several years. With the petrochemical business now sold, it will shift its focus on natural gas, CEO Dušan Stopar recently told the STA.

Nafta Lendava has a 50% stake in Geoenergo, which is exploring a gas field in nearby Petišovci together with UK firm Ascent Resources.