Reuters: OTP to raise offer for NKBM

Deals

Hungary's OTP bank is currently in negotiations with its Slovenian state-owned peer Nova KBM (NKBM) and is planning to raise its offer if the bank's Serbian branches and leasing unit are removed from the deal, international news service Reuters reported today citing an OTP insider. An OTP spokesman failed to comment on a query made by Reuters.

According to Slovenian newspapers, U.S. private equity fund Apollo placed a rival offer of €200 mln for the acquiring NKBM. The Slovenian government is scheduled to choose a buyer by the end of February.

"We offered €130 mln but we think that the Serbian branches and the leasing unit have a negative value," an unidentified senior source told Reuters. "We told them that if those are taken out, we'd be willing to raise our offer […] We are actually in talks, even though our offer was clearly lower."

Nova KBM is Slovenia's second-largest lender.

OTP Bank has units throughout the CEE region but not in Slovenia.

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