January 30 (SeeNews) - Slovenia's central bank said on Tuesday that if Serbia's AIK Banka is found not to fulfil the conditions for the acquisition of a stake in Slovenian peer Gorenjska Banka, action may be taken to cancel the regulatory approval of the transaction.
"If, on the basis of a reassessment by the competent supervisory authority AIK Banka, is found not to meet the conditions to become a qualified owner of Gorenjska Banka, the supervisory authority may initiate procedures to withdraw its approval," Slovenia's central bank said in a statement.
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On Tuesday, local media reported that Serbia's central bank has withdrawn the clearance granted to AIK Banka to acquire a 37.6% stake in Gorenjska Banka from Slovenian business conglomerate Sava.
According to Slovenian news agency STA and Finance.si news outlet, Serbia's central bank has found several irregularities at the bank owned by Serb tycoon Miodrag Kostic.
Slovenia's central bank confirmed on Tuesday it holds all the relevant information needed to assess AIK's suitability.
Sava's shareholders are scheduled to vote on Tuesday on the sale of the company's holding in Gorenjska Banka to AIK. They are now expected to delay the vote.
Sava was ordered to sell its stake in Gorenjska by Slovenia's central bank in 2016. It is part of a consortium of Gorenjska Banka shareholders, formed in July 2016 with the intent to sell a combined holding of over 50%.
In February last year, Slovenia's central bank gave the green light to AIK Banka to increase its stake in Gorenjska Banka to more than 50%.
The Serbian lender, a subsidiary of vertically-integrated agro-industrial conglomerate MK Group, became the second largest shareholder in Gorenjska Banka with a 13.9% stake by investing almost 13 million euro in a share capital increase in January 2016, which the Slovenian lender needed to meet central bank requirements.
Currently, AIK holds a 21% stake in Gorenjska Banka.
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