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Nov 16, 2023 11:35 EEST
November 16 (SeeNews) - Slovenia's mutual fund and asset management company NLB Skladi, part of banking group Nova Ljubljanska Banka [LJSE:NLBR], said it signed an agreement to buy the entire shareholding interest in North Macedonia's peer Generali Investments A.D. Skopje.
NLB Skladi has agreed to buy the asset management company from Ljubljana-based Generali Investments and three individual shareholders, NLB Skladi said in a statement earlier this week.
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The completion of the transaction is subject to the fulfillment of certain conditions precedent, the statement read. The value of the deal was not disclosed.
Ljubljana-based Generali Investments holds a 98.34% stake in the Skopje-based unit, according to data on the website of Generali Investments A.D. Skopje. The names of the other shareholders are not displayed.
NLB Skladi is the largest mutual fund management company in Slovenia, as well as the largest asset management company by total assets under management, with a market share of 39.14% at the end of 2022.
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