Executive Newsletter | Member of Ninamedia

NLB announces bid to acquire Addiko Bank

Nova Ljubljanska Banka (NLB) announced a bid to acquire Addiko Bank on Friday.According to the STA agency, NLB is offering EUR 20 per share of Addiko Bank, valuing the bank at EUR 390 million. NLB aims to purchase at least 75% of all Addiko Bank shares and will present the details of its offer through an online presentation at 15:00 today. Addiko Bank is listed on the Vienna Stock Exchange and operates in key markets for NLB, including Slovenia, Croatia, Bosnia and Herzegovina, Serbia, and Montenegro. Its ownership is dispersed, with no single shareholder holding more than 10% of the shares. Three weeks ago, Nova Ljubljanska Banka announced its intention to acquire Addiko Bank’s shares to gain control over all its issued and outstanding shares. Serbian Alta Bank is also interested in acquiring a stake in Addiko Bank. Recently, Alta Bank purchased a 30% stake in Addiko Bank and has applied for approval to become the banking group’s largest shareholder. Additionally, the company Agri Europe Cyprus, owned by Serbian businessman Miodrag Kostić, intends to acquire a minority stake in Addiko Bank. Agri Europe has sought to purchase a 17% stake in Addiko Bank through a public tender offer and has already acquired a 10% stake previously controlled by Kostić. This offer values the bank at EUR 341 million, or EUR 17.5 per share, including dividends.