Investors interested in acquiring Elan have until the end of this week to express their interest to PricewaterhouseCoopers, which was retained by Elan earlier this year to organize the sale of the Slovenian ski and nautical company. The company indicates that the cash-in element of the purchase price, in the form of an equity contribution, should be in the range of at least €7 million to €10 million, while the post-money stake to be obtained by the buyer is negotiable. Most of Elan's shares are indirectly held by the Slovenian government, through investment funds and an insurance company.

Several years of restructuring measures at Elan have been fueling speculation that the company was preparing a sale, and this was confirmed in February. As we reported at the time, the Elan group reached sales of about €84 million last year. This included a turnover of €63 million for its winter sports division, with sales of about 250,000 pairs of Elan-branded skis and more than 200,000 pairs of skis manufactured for other brands. Elan is also a major producer of snowboards. The rest of the sales are mostly spread between Elan yachts and other types of sports equipment.

The Elan group returned an operating profit of about €7 million last year. The winter sports unit achieved a net profit of €1.8 million, but the group still suffered a net loss of about €1.6 million, due to the losses of its marine unit. For this year, the company predicts that it will break even, with sales of about €90 million and operating income of €8 million.