OTP said to be highest bidder for Slovenia’s Abanka
Hungarian lender OTP Bank has reportedly filed the highest bid for Slovenia’s third-largest bank, the state-owned Abanka, with an offer of about EUR 300 million, Slovenian daily newspaper Dnevnik reported on Friday, as cited by news agency Reuters.
Slovenia is aiming to sell the whole of Abanka by the middle of 2019 to meet the conditions of a deal to win European Commission approval for state recapitalization of Abanka, signed in 2013.
The report added that OTP is also interested in buying SKB banka, the Slovenian unit of French bank Société Générale (SocGen), and has already conducted due diligence on the unit. Recently, OTP has acquired several SocGen units in countries including Moldova, Montenegro, and Bulgaria.
Hungarian news wire MTI recalled that OTP Deputy CEO László Bencsik said in March that OTP would gladly buy a bank in Slovenia, where it currently has no market presence.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.