Intesa SanPaolo buys remaining stocks of Panonska Banka for 17.6m EUR

Italian bank Intesa SanPaolo has announced the offer for takeover of remaining 12.61% of stocks of Panonska banka from Novi Sad at price of 14,024 RSD (178 EUR) per stock.

According to the web site of the Central Securities Registry, the offer will be opened prior to April 12, and Intesa SanPaolo will have to set aside 1.39 billion RSD (17.6m EUR) for 99,045 stocks of Panonska banka.

According to the Contract on procurement of stocks of Panonska Banka, signed on July 28, 2006, with Republic of Serbia, the bidder had obligation to buy the stocks from the minor stockholders at the same price the State got.

Majority package of stocks in Panonska banka was bought last summer by Italian bank SanPaolo for 122m EUR.