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NLB d.d. Ljubljana and NLB Banka AD Skopje have closed a sales agreement with the reinsurance company Sava Re d.d. Ljubljana, for the sale of 100% shares of NLB Nov penziski fond AD Skopje

 

Today, December 12th 2017 in Skopje NLB d.d. Ljubljana and NLB Banka AD Skopje closed a sales agreement in Skopje with the reinsurance company Sava Re d.d. Ljubljana for the sale of 100% of shares of the company NLB Nov penziski fond AD Skopje. NLB d.d. Ljubljana holds a 51% stake in the company and NLB Banka AD Skopje owns 49% shares. The ownership of the target company shares will be transferred to the acquirer after all suspensive conditions have been satisfied.

 

In March 2017, NLB d.d. Ljubljana and NLB Banka AD Skopje authorised NLB d.d. Ljubljana, Corporate Finance, to conduct an open and transparent sales procedure for 100% shares of NLB Nov penziski fond AD Skopje. The sale was conducted in two phases. In the first phase, which lasted by May 2017, interested investors were invited to submit binding offers. The procedure was run in a professional manner, in accordance with international good practices and in view of including all potentially interested investors. The procedure was fully transparent.     

Nevertheless, the Republic of Macedonia remains one of the NLB Group’s strategic markets. NLB Banka AD Skopje is one of the largest and most important banks in the NLB Group and in the future, with further business development, the NLB Group is going to increase the volume of its operations in the Republic of Macedonia even further.

Published оn: 12/12/2017 1:09:22 PM
Public Document ID: DOC_10686-29/2017
Layout: Other price sensitive information