Slovenian investment fund Alfi took over Tuš Group

The Slovenian investment fund Alfi has taken over the supermarket operator Tuš Group by acquiring around 80 percent of its receivables from banks. The move, which has been confirmed by Alfi, allows the investor to convert the debt into equity. A final deal concluding the transaction is expected to be signed this week, which marks an unsuccessful attempt by Tus Group to finance a major expansion program through debt capital. The company underwent financial restructuring, including an extension of its existing liabilities until 2020.