Business News

Unicredit Selling 1.72% Stake in NLB

Ljubljana, 22 June (STA) - Unicredit Banka Slovenija started soliciting binding bids on Tuesday for its 1.72% stake in NLB, Slovenia's largest bank, which it seized as collateral. The stake is valued at a minimum of EUR 23.84m or EUR 155.35 per share.

Unicredit, which is a part of Italy's Unicredit Group, would not reveal in which deal the NLB stake had been pledged as collateral, but annual reports of the NLB suggest it formally acquired the stake in 2008.

Bidding in what will be a single-stage procedure is open until 23 July at 3 PM. The buyer will be selected based on price alone, Unicredit said.

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