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OTP one of two bidders for Sloveniaʼs Abanka

Slovenia has received bids for its third largest bank, the state-owned Abanka, from U.S. investment fund Apollo and leading Hungarian bank OTP, state news wire MTI reported, citing a Reuters report based on local daily newspaper Delo.

Both bidders are offering about EUR 400 million for Abanka, with Apolloʼs bid the highest, Delo said, without naming its sources.

State investment fund Slovenian Sovereign Holding (SDH), which is in charge of privatization in the country, is expected to choose the buyer on Monday and then it may ask the government to confirm the sale, the paper reported.

SDH, Apollo and OTP had no immediate comment.

Abanka is currently fully owned by the state after needing a state capital injection in 2014 to avoid collapse due to the amount of bad loans it was holding.

In exchange for the European Commissionʼs approval of state aid to Abanka, Slovenia has an obligation to sell the bank by the middle of 2019, noted MTI.