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HUSQVARNA INVESTS IN SLOVENIA IFC ACTS AS FINANCIAL AND STRATEGIC ADVISER


Bibi Kasrai
(202) 473-5318
Ajit Virk
(202) 473-0795


WASHINGTON, D.C., April 27 -- Husqvarna AB has acquired from Group Tomos for an undisclosed amount a chainsaw business located in Koper, Slovenia. Group Tomos, a Slovene company, has made Husqvarna chainsaws for many years under license. As a result of this transaction the sales of this Koper business are expected to grow, particularly through exports. Slovenia is presently implementing a privatization program aimed at transferring ownership to citizens through certificates issued free of cost and redeemable for shares in Slovene companies. This investment by Husqvarna represents one of few cases of foreign direct investment since Slovenia's independence in June 1991. The International Finance Corporation (IFC) acted as the financial and strategic adviser to Tomos in this transaction. Husqvarna AB, a Swedish company, member of the Electrolux Group, is the world's leading chainsaw manufacturer. IFC, a member of the World Bank Group, is the largest multilateral source of equity and loan financing for private se
ctor projects in developing countries and also provides advisory services to businesses and governments.