Slovenia-based NLB preps buyout bid to take full control of Serbian unit

Nova Ljubljanska banka d.d. plans to launch a buyout bid for the shares of its Serbian unit Komercijalna banka a.d. Beograd that it does not yet own.

The Slovenian lender is looking to acquire 2,820,270 ordinary shares in Komercijalna, equivalent to a 16.77% stake in the bank, as well as all 373,510 preferential shares issued by the Serbian bank.

NLB said in its Feb. 11 filing that it will submit a takeover approval request to Serbia's Securities Exchange Commission within 15 business days and will publish the takeover bid the next day after the approval is granted.

Nova Ljubljanska banka completed the purchase of an 83.23% stake in Komercijalna banka from the Serbian government in December 2020, with the final purchase price amounting to €394.7 million.