Slovenia’s competition protection agency has approved the acquisition of the entire equity capital of Nova Kreditna Banka Maribor (NKBM) by Hungary’s OTP Bank on January 31, OTP Bank said on Wednesday.
After obtaining the approval of the European Central Bank on September 6, 2022, and then the approval of the Slovenian competition authority, the share transfer related to the purchase of the bank and the settlement of the purchase price are expected to take place in the following days, OTP Bank said in a statement.
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OTP Bank said in May 2021 it will acquire a 100% stake in NKBM and its subsidiaries.
NKBM is 80% owned by funds managed by affiliates of Apollo Global Management. The European Bank for Reconstruction and Development Bank (EBRD) owns the remaining 20% interest.Nova Kreditna Banka Maribor d.d. is among the biggest banks in SEE, for more reference take a look at Top 100 banks