Serbian government buys a 32% share in Komercijalna Banka

The Serbian government today bought 34% of the shares of Komercijalna Banka, whereby it fulfilled its obligation stemming from the ongoing sale of the bank, two sources confirmed for Tanjug.

The information has not yet been officially confirmed, and the exact value of the shares the state bought at the Belgrade Stock Exchange from the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) is not known either.

The Blic daily writes that the value amounts to EUR 211.8 million, but that hasn’t been confirmed.

The Republic of Serbia now has an 83.2% stake in Komercijalna Banka.

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The aforementioned obligation is written in the text of the public call for submission of letters of interest for the sale of Komercijalna Banka, where it is said that the state will buy the shares from the bank’s four large shareholders.

By acquiring the shares from these two large shareholders of Komercijalna Banka, the state has fulfilled its obligation stemming from the ongoing sale of the bank, defined back in 2006.

This June, the state bought the shares of the German and Swedish investment funds, DEG and SVED respectively, totalling 6.8%.

The deadline for the submission of binding bids for the sale of Komercijalna Banka expires on December 2, and with three banks expressing their interest in acquiring Komercijalna – Raiffeisen from Austria, AIK Banka from Serbia and NLB Banka from Slovenia, as well as the American investment fund Ripplewood Advisors, owned by the American businessman Tim Collins.

(Vecernje Novosti, 26.11.2019)

This post is also available in: Italiano

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