Equity
Hungary's OTP said to be one of the bidders for Slovenian bank
Investment fund Apollo and OTP Bank have submitted bids for Slovenia’s third-largest bank, Abanka, Delo reports.
Both of them offered nearly EUR 400 million (about HUF 129 bn) for Abanka, but Apollo’s bid is higher.
The Slovenian Sovereign Holding (SDH) in charge of privatisation matters may announce the winner on Monday (17 June).
Abanka is state-owned, as it needed a capital injection by the state in order to avoid bankruptcy in 2014. In exchange for the bailout, the state pledged to the European Commission to sell off the bank by mid-2019.
Neither Apollo, nor OTP commented the media report.
OTP’s last acquisition was made in Slovenia. It acquired the local operation from Societe Generale, after which transaction OTP’s management announced it would take a break from takeovers for a while, and focus will be shifted from acquisitions to the integration of the new assets. This, they stressed, does not mean that OTP does not remain open to additional takeovers.
Both of them offered nearly EUR 400 million (about HUF 129 bn) for Abanka, but Apollo’s bid is higher.
The Slovenian Sovereign Holding (SDH) in charge of privatisation matters may announce the winner on Monday (17 June).
Abanka is state-owned, as it needed a capital injection by the state in order to avoid bankruptcy in 2014. In exchange for the bailout, the state pledged to the European Commission to sell off the bank by mid-2019.
Neither Apollo, nor OTP commented the media report.
OTP’s last acquisition was made in Slovenia. It acquired the local operation from Societe Generale, after which transaction OTP’s management announced it would take a break from takeovers for a while, and focus will be shifted from acquisitions to the integration of the new assets. This, they stressed, does not mean that OTP does not remain open to additional takeovers.
