Serbian government buys Komercijalna Banka shares for 43.7mln euro

On Wednesday, Serbian authorities purchased 6.8% of Komercijalna Banka’s shares from the DEG and the SVED funds for 5.1 billion dinars (43.7 million euro), the Serbian Ministry of Finance confirmed.

The Serbian government had purchased a total 1,159,000 shares from the German and the Swedish funds respectively at a price of 4,447 dinars per share.

DEG had a 4.5% share in the bank, while the two funds combined had a total of 6.8% share.

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In a call for submission of letters of interest for the acquisition of Komercijalna Banka, the government said it would purchase shares owned by four major shareholders, which, besides the two funds, also include EBRD (24.4%) and the International Finance Corporation (10.1%).

With a 42% stake, Serbian authorities are now the largest shareholder in Komercijalna Banka.

Also, the Tender Commission, which monitors the implementation of the procedure for the sale of the Serbian government’s stake in the bank, had a meeting at which it assessed all the bids that have been submitted. The Commission determined that six letters of interest were submitted in a timely manner and that they contain all the documentation foreseen by the public invitation.

Pursuant to the public invitation for submission of interest statements, published on May 31st, Komercijalna Banka’s shares offered for sale amount to 50.1% of the total number of ordinary shares issued by the bank, with the possibility of acquiring a maximum of 13,997,686 shares, the Ministry of Finance announced. This makes up a total of 83.23% of the total number of ordinary shares issued.

Participants in the tender, who meet the qualification criteria defined in the public call, will be informed in writing and invited to participate in the further course of the tender procedure.

(eKapija, 26.06.2019)

https://www.ekapija.com/news/2552794/srbija-kupila-68-akcija-komercijalne-banke-od-deg-i-sved-fonda-za

 

This post is also available in: Italiano

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