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UPDATE 1 - Serbia’s economy grows 3.6% y/y in Q3
Dec 23, 2020 10:53 EEST
December 23 (SeeNews) - Slovenia's Nova Ljubljanska Banka (NLB) [LJE:NLBR] said it expects to wrap up the acquisition of Serbia's Komercijalna Banka [BEL:KMBN] by the end of the year, after having obtained all needed regulatory approvals.
"Subject to fulfilment of other conditions for completion of the transaction, the transaction is expected to be completed by the end of 2020. A further announcement will be made in due course," NLB said in a bourse filing on Tuesday.
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In February, Serbia's government signed an agreement to sell its 83.23% shareholding interest in Komercijalna Banka to NLB for 387 million euro ($471 million), subject to a 2% annual interest rate between January 1, 2020 and the closing of the transaction. The sale price implies a valuation of 465 million euro for 100% of Komercijalna Banka's ordinary share capital.
NLB's shares closed flat at 44 euro on the Ljubljana Stock Exchange on Tuesday. Komercijalna Banka's stocks last traded on the Belgrade bourse on December 16, closing up 0.10% at 3,000 dinars ($31/26 euro)
(1 euro = 117.582 dinars)
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