SRD To Settle Elan Debt

Ljubljana, 17 February - COMPANIES/ELAN/DEBT
The supervisory board of the Slovene Development Corporation (SRD) gave a green light to the proposal of the SRD management board that the corporation should factor the debt of and thus acquire a stake in the sporting goods group Elan from the Croatian bank, Privredna banka Zagreb, a 77-percent owner of Elan. The management board was also tasked on Thursday to prepare out a detailed financial scheme of the transaction, which will then have to be approved by the supervisory board. It is expected that the Slovene government will discuss Elan related issues today.