In a release posted on the website of the Ljubljana Stock Exchange on Tuesday, Abanka said that the share capital of Aleasing will be transferred to the buyer once conditions precedent are met, including all relevant regulatory approvals.

Aleasing is in sole ownership of Abanka. Headquartered in Ljubljana, it also has branch offices in Celje and Šempeter pri Gorici. Last year it sold its 49% stake in the Sarajevo-based company Agradnja.

Aleasing's core business is financial leasing of movable and immovable property and operative leasing of vehicles. As part of its leasing business it also markets insurance services.

Currently in sole state ownership, Abanka needs to be privatised by mid-2019 in line with the conditions under which the European Commission approved state aid to the bank in late 2013 and early 2014. As part of the restructuring plan approved by Brussels the bank also committed to sell Aleasing.

Abanka signed the sale agreement with Banka Sparkasse a week ago. Banka Sparkasse is a subsidiary of the group Erste Bank und Sparkasse, which in turn is part of Erste Group.