Slovenia becomes sole owner of Polzela

The state of Slovenia and the Slovenian Sovereign Holding (SSH) have increased the capital of the legwear manufacturer Polzela in line with the shareholders' decision made on August 2, 2016, by which they've become the sole owners of the company.

The state has paid EUR 1.5 million to Polzela, and the Holding, which takes care of the state property, has converted the receivables from the company in the amount of EUR 600,000 into shares capital.

Through this, the state of Slovenia has acquired 71.43% of the ownership, and the SSH a 28.57% share in the problem-ridden company.

Polzela, a company with a long lasting tradition and around 230 employees, has been struggling for some time now with insolvency and trying to secure its existence through financial and operational restructuring.

Prior to the decision on the acquisition by the state and the confirmation of the court decision from early 2015 on the restructuring of the debt, the company's largest shareholder was a so-called bad bank with a 37.7% share.

The second largest shareholder was the state with a 30.4% share, followed by Dezelna Banka Slovenije with 13.4%, Nova Kreditna Banka Maribor with 10.2% and Hranilnica Lon with a 6.9% share.

Polzela Slovenia

Slovenian Sovereign Holding SSH

Dezelna Banka Slovenije

Nova Kreditna Banka Maribor

Hranilnica Lon