Ljubljana – The NLB bank has send a request to its Serbian subsidiary NLB Komercijalna Banka for a buy-out of the minority shareholders as Slovenia’s largest bank recently reached the relevant threshold after acquiring additional shares. NLB expects that the buy-out will have a neutral impact on the group’s bottom line.
On Monday, NLB acquired an additional 442,799 ordinary shares of NLB Komercijalna Banka to increase its share capital in the bank to 90.22% and the stake of shares with voting rights to 91.73%.
By doing so, the bank reached the threshold for a buy-out of the remaining small shareholders as determined by the Serbian corporate law, NLB said in a press release on Wednesday.
“NLB expects the buy-out of the minority shareholders to have a neutral impact on the group’s bottom line,” the bank said, noting that the increase of ownership of NLB Komercijalna Banka to the outright stake was in line with the group’s strategy.
“It further confirms the importance of the Serbian market for the realisation of the intention of the NLB group to become a regional champion,” the press release adds.
The move comes after NLB obtained at the end of April all relevant permits to conclude the procedure of merger of the Belgrade-based Komercijalna Banka and NLB Banka Beograd into NLB Komercijalna Banka.
NLB signed the contract with the Serbian government to acquire 83.23% of the bank for EUR 394.7 million in February 2020, with the acquisition completed at the end of the same year. The bid to acquire the remaining stake was publish in March 2021.