July 13 (SeeNews) - Slovenia's Nova Ljubljanska Banka (NLB) [LJE:NLBR] has squeezed out the shares in Belgrade-based Komercijalna Banka [BEL:KMBN] it did not own yet, NLB said on Wednesday.
Through the squeeze-out process, NLB ]acquired 1,528,110 regular shares and 316,260 preferred shares in Komercijalna Banka with a total value of 61.7 million euro ($62.1 million), the Slovenian lender said in a bourse filing.
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Prior to the squeeze-out, NLB owned 90.2% of the share capital and 91.7% of the voting rights in Komercijalna Banka, it said.
NLB reached the threshold for the obligatory squeezing of minority shareholders in Komercijalna on May 23, when it acquired 442,799 ordinary shares in Komercijalna banka.
The Slovenian bank expects that the squeeze out of minority shareholders will have a neutral impact on the group's profit or loss, NLB said in May.
NLB completed the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka for 394.7 million euro ($421.9 million) on December 30, 2020, becoming the third-largest banking group in Serbia. In April 2021, NLB lifted its stake in Komercijalna Banka to 88% following the completion of a buyout bid.
($ = 0.9940 euro)
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