ECB Clears OTP Acquisition of Slovenian Peer

Deals

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The European Central Bank (ECB) has approved the acquisition of Nova KBM, Slovenia's second-biggest lender, by Hungary's OTP Bank, state news wire MTI reports, citing information posted on the website of the Slovenian central bank.

The deal - initially announced by OTP in the spring of 2021 - still requires clearance by Slovenia's competition authority, which could come in days, Slovenian news agency STA said.

The transaction price has not been disclosed, but industry insiders put it around EUR 1 billion.

Nova KBM is owned by Apollo Global Management (80%) and the EBRD (20%).

OTP already owns a lender in Slovenia: SKB Banka.

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