Serbian businessmen Andrej Jovanovic and Bojan Milovanovic to acquire Slovenia's KBM bank

Serbian businessmen Andrej Jovanovic and Bojan Milovanovic will be the new owners of KBM Banka in Serbia, the Maribor daily Vecer has announced.

Namely, the Supervisory Board of Nova Kreditna Banka Maribor (NKBM) has agreed to sell Kragujevac-based KBM Banka. According to unofficial information, the sale contract should be signed Wednesday.

KBM Banka entered the market of Serbia as the owner of Kragujevac-based Credy Banka, in which NKBM acquired a stake in 2010.

Andrej Jovanovic and Bojan Milovanovic are known to public as the founders of Marbo product, the manufacturer of Chipsy products. Marbo was sold to PepsiCo for EUR 210 million, which made it possible for these two to diversify into some other spheres of business.

Andrej Jovanovic is also the general manager of the holding company Moji brendovi (My Brands), which holds shares in Imlek, Knjaz Milos and Bambi.