Slovenian steel manufacturer Slovenska Industrija Jekla (SIJ) said it is selling its majority stake in local poultry producer Perutnina Ptuj to Ukrainian holding company MHP for an undisclosed price.
MHP has initiated a procedure for obtaining the approval of Slovenia's competition authority for the acquisition of SIJ's 90.69% stake in Perutnina Ptuj, SIJ said in a filing to the Ljubljana Stock Exchange on Tuesday.
SIJ has been planning to exclude Perutnina Ptuj from the group for some time by selling its 9,896,842 shares in the poultry producer.
SIJ first entered Perutnina, which employs 3,600 people, in December 2015. Last year it increased its shareholding interest in the company to above 90%.
The SIJ Group is the largest vertically integrated metallurgical group in Slovenia, occupying with its products leading positions on European and global niche steel markets.