October 28 (SeeNews) - Serbian blue-chip lender Komercijalna Banka [BEL:KMBN] signed an agreement to sell its unit in Bosnia's Serb Republic to state-run lender Banka Postanska Stedionica, it said.
The transaction will be completed no later than March 31, 2022, provided that regulatory approvals are given, Komercijalna Banka said in a bourse filing on Wednesday.
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Last month, Serbian finance minister Sinisa Mali said state-run lender Banka Postanska Stedionica has submitted a non-binding bid for the acquisition of Komercijalna Banka Banja Luka after receiving the approval of its shareholders.
Slovenia's Nova Ljubljanska Banka [LJE:NLBR] completed the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka for 394.7 million euro ($458 million) on December 30, becoming the third-largest banking group in Serbia. In April, Nova Ljubljanska Banka raised its stake in Komercijalna Banka to 88% following the completion of a buyout bid.
($ = 0.86172 euro)
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