November 16 (SeeNews) - Nova Ljubljanska Banka has launched a tender for the sale of its 3% stake in local energy company Petrol [LJE:PETG], the Slovenian lender said.
NLB is abandoning its initial plan to sell only half of its stake and is selling up to 63,183 shares in Petrol which it holds, the bank said in an invitation to potential bidders posted on its website.
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Based on Tuesday's closing price of Petrol shares of 310.15 euro on the Ljubljana Stock Exchange, the stake is valued at approximately 19.6 million euro ($20.9 million).
The deadline for the submission of bids is December 15.
According to WiseBroker, a brokerage house based in Belgrade, Serbia, Slovenia's largest bank had seized these shares from insolvent Istrabenz and is disposing of them because they represent a non-strategic investment.
The bank published a call for bids for a 1.5% stake in Petrol in September, but decided to call off the procedure and offer the entire stake for sale after receiving a good response.
Petrol's shares were trading at 311.00 euro as at 10.36 CET, up 0.27% from Tuesday's close.
($=0.933186 euro)