Unior’s Ongoing Stake Sale in Store Steel
Slovenian hand tools giant Unior, listed on the Ljubljana Stock Exchange under the ticker LJE:UKIG, confirmed that it will move forward with selling its 29.25% stake in local steel manufacturer, Store Steel, following the suspension of a broader sales process led by a consortium of sellers. The decision was officially disclosed in a filing with the Ljubljana Stock Exchange last Friday, though Unior refrained from offering additional details regarding the sale's timeline or terms.
Store Steel’s Shareholder Structure and Market Value
As of September 2023, Unior held a significant portion of Store Steel's shares, which are part of a wider network of shareholders, including four other local companies and 18 individual investors. The company’s equity capital is valued at 10.3 million euros (approximately $10.8 million), a reflection of the ongoing significance of its operations in the steel sector, particularly within the European automotive market.
Store Steel’s Role in the European Automotive Industry
Store Steel primarily manufactures high-performance steel products, including spring steel, engineering (forging) steel, and Exem steel. These specialized materials are essential for both commercial and passenger vehicle production, solidifying the company's position in the automotive supply chain.
Unior’s Stock Price Decline
Despite Unior's ongoing exit from its stake in Store Steel, it seems that the broader market sentiment reflected in Unior’s share price has not been favorable, with its stock dipping by 5.33% to 7.10 euros intraday on the Ljubljana Stock Exchange this past Monday.
