French Manufacturer of Trigano Camping Equipment Is the Prime Prospect for Adria Mobil
The ACH made a pause in the Adria Mobil selling campaign, as the Protej parent company entered into negotiations with the French manufacturer of Trigano camping equipment concerning the sale of all shares.
Ljubljana. The French manufacturer of Trigano camping equipment is the prime prospect for Adria Mobil. The Protej Company, which via ACH owns the company from Novo Mesto, began exclusive negotiations with Trigano on the sale of all its shares.
ACH yesterday suspended the sale of the 99.72% stake in Adria Mobil, since Protej entered into exclusive negotiations for the sale of all its shares to the French company Trigano, as reported in Adria Mobil. Experts believe that the negotiations will last for six months and, according to unofficial information, the purchase price will amount to 180 million euros.
Via ACH, Protej also owns some other entities in addition to Adria Mobil, which is their main property. The Company is the majority owner of the Grand Hotel Union network that the ACH was trying to sell. The Israeli hotel group Fattal Hotel Management was seriously interested in purchasing this business, but the sales procedure was soon stopped. This happened because Protej overturned the decision on the adoption of a strategic plan for 2016–2020. The plan, among other things, provided for the expropriation of strategic investments.
The decision on further procedures will be taken at the meeting of the ACH Supervisory Board, as the Grand Hotel Union network representatives have informed. The Trigano is probably not interested in the hotels, so the property can be divided between them and the current Protej companions. The Protej Company also owns entities in the automotive industry, such as the Autocommerce, AC Mobil and Avto Triglav companies and the information telephony.
The notification on the beginning of exclusive negotiations with the Protej shareholders regarding the purchase of the Adria Mobil Company was also published on the Trigano website. “Adria is one of the most famous brands in the European market for leisure vehicles,” the French noted and added that the manufacturer of trailers, caravans and mobile homes from Novo Mesto had 1,500 employees and produced about 350 million euros in revenue last year.
For comparison, in 2015 the Adria Mobil Group made 303 million euros of income. In the first half of this year, the Group has produced more than 14 million euros in net profit.
The Trigano Company consolidates over 20 different brands. A few days ago it acquired the British manufacturer of motor homes – Auto-Sleepers Investments. Trigano has more than 1.3 billion euros of annual turnover. The Company employs 5,000 people in five European countries. The French see promising opportunities for the development of production in the purchase of Adria Mobil. The French Company representatives noted that the purchase price would be covered by existing credit potential.
In September, the ACH Company notified Adria Mobil on the reconsideration of strategic alliances and the possible sale of their stake in the Company from Novo Mesto.
Adria Mobil is one of the country’s largest exporters, which employs more than 1,500 people. The Group annually produces more than 300 million euros of net income from sales and over 15 million euros in net profit. The Company is financially stable, has low debt and generates strong cash flow, which ensures that all the company’s business commitments are fulfilled and dividends are regularly paid.
Regarding the sale of its stake, the majority owner stated that it would try to ensure the key nuances in the selection of the most favourable trustee. The new purchaser, in turn, will take over the obligation to comply with the non-financial criteria: to save workplaces, manufacturing, the headquarters in Slovenia, the Adria brand, as well as to fulfil the collective agreements and respect the rights of the Adria Mobil Company’s employees. In addition, the new owner is obliged to use all the possibilities for interaction with stakeholders to improve the profitability and competitiveness of the Company.