Business News

NKBM Seeks to Consolidate Ownership in Zavarovalnica Maribor

Maribor, 22 June (STA) - Slovenia's second largest bank NKBM is to consolidate its ownership in Zavarovalnica Maribor, the country's second largest insurer, the bank said in a press release on Wednesday. NKBM, which already holds nearly 50% of the insurer, is to issue a bid in July to become 100% owner of Zavarovalnica Maribor.

NKBM has not managed to see eye to eye on the price with the insurer's second largest owner, reinsurer Pozavarovalnica Sava, which holds 47% in Zavarovalnica Maribor.

The bank said it already informed the Securities Market Agency and the Competition Protection Office about its intentions.

The bid is to be issued in the next month, but no sooner than in ten days.

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