NLB in running for acquisition of Addiko Bank

NLB has announced the intention to make a public offer for the acquisition of all the shares of Addiko Bank. It will offer EUR 20 per share, minus all the future dividend payments.

By announcing the offer, NLB seeks to acquire a considerable majority stake in Addiko, the bank announced on the website of the Ljubljana Stock Exchange.

– The offered price includes a premium of 22.15% relative to the weighted average of the market price in the past six months in the amount of EUR 16.37. It also includes a premium of 4.99% relative to today’s closing price of a share and a premium of 32.01% relative to the closing price of a share of EUR 15.15 on March 22, that is, the last closing price of a share before the announcement of the intention of the partial offer of Agri Europe Cyprus Limited for Addiko shares on March 25 – NLB announced on Wednesday, as reported by SEEbiz.

A successful execution of the offer depends on acquiring a considerable majority stake in Addiko, the approval of the competent bodies for banking and the control of the concentration, as well as other conditions that apply for such acquisitions. NLB will submit the documentation about the acquisition, with all the necessary attachments, to the Austrian Takeover Commission.

– NLB positively rates the development of the abilities of Addiko Group. We believe that those abilities would complement NLB’s model of universal banking. In addition to enabling for NLB Group a bigger scope and capacity in the four countries we are present in, following the introduction of EUR and the entrance to the Schengen Area, Addiko would also add to our local markets the very important market of the neighboring Croatia, the biggest economy in our region of origin, the bridge to all other markets of ours and the only one that NLB is currently not present in – wrote NLB Group CEO Blaz Brodnjak.

NLB Bank

Addiko Bank

Agri Europe Cyprus Limited

Blaž Brodnjak

shares of Addiko Bank

acquisition of shares of Addiko Bank