Slovenia's Abanka disposes of assets under sales deal with Banka Sparkasse

The transaction includes the transfer of Aleasing's all real estate lease contracts with legal entities to sister company Anepremicnine and of certain other assets to DDM Invest VII, a unit of Swiss DDM Holding, the lender said in a Ljubljana bourse filing without providing financial details.

"Completing this spin-off was one of the conditions precedent under the agreement between the seller Abanka, Ljubljana and Banka Sparkasse, Ljubljana as the buyer of 100% of the share capital in the company Aleasing singed on 18 July 2017," Abanka noted.

In 2013, the Slovenian government had to step in and recapitalise Abanka whilst also seizing control of the bank. In October 2015, Abanka and its state-owned peer Banka Celje merged. The latter ceased to exist as an independent legal entity, while Abanka as the acquiring company and universal legal successor entered all legal relations concerning its peer.