Abanka, Slovenia
The European Central Bank (ECB) has granted Nova Kreditna Banka Maribor permission to take over Abanka, Vecer has reported.
This is the final requirement for Apollo’s move to purchase the bank. Slovenia’s second and third biggest banks will now merge, the media reported.
The Slovenian state holding company sold its 100% stake in Abanka to Nova Kreditna Banka Maribor, which is owned by the U.S. Apollo Fund in June last year for EUR444m.
Abanka is the third bank to be privatized for obligations toward the European Commission, after Slovenia conducted a capital boost in 2013 and bailed out state-owned banks during a banking crisis.
In the wake of the privatization of state banks Slovenia retained only 25% of its ownership stake in Nova Ljubljanska Banka. It also owns SID Bank.
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