Slovene Economy Review from 12 until 18 February

Ljubljana, 20 February - Slovenes were pleasantly surprised by news last week which indicated that the sport goods manufacturer Elan, once Slovenia's pride and joy, may once again be in Slovene hands. The Slovene Development Corporation (SRD) stepped in and came to an agreement with the Croatian Privredna banka and with the Croatian agency for the reformation of banks on the settlement of debts. This follows the resistance of Elan creditors in concern to the writing off of a part of the company's debts and the threat of bankruptcy made by the management of the company. The SRD will take over a 77.25 percent share of Elan with this agreement.