Business News

NLB raises stake in Komercijalna Banka to 88%

Ljubljana, 13 April (STA) - NLB, Slovenia's largest bank, has raised its stake in Serbia's Komercijalna Banka to just under 88%, having acquired an additional 801,876 ordinary shares in a takeover bid. It has also purchased 15.3% of preferred shares.

The transaction was worth 2.71 billion Serbian dinars, or roughly EUR 23 million, the bank said on Tuesday.

NLB acquired an 83.2% stake in Komercijalna Banka from the Serbian government for EUR 395 million in a transaction that was completed at the end of last year.

It announced back then that it would make an offer for the outstanding shares.

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