tender process to sell its entire 34 per cent stake in Slovenia’s
Nova Ljubljanska Bank (NLB) after failing to acquire a majority
share in the financial group.
KBC will also sell its 50 per cent stake in NLB Vita, a life
insurance business.
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“After careful consideration and with some regret, we decided to
become a purely financial investor in NLB when it became apparent
that we would not be able to acquire a majority stake in the
Slovene bank. The sale envisaged is thus wholly consistent with
KBC’s strategy, which is to explore and act on opportunities to
acquire direct majority ownership of companies in the region,”
KBC’s CEO, André Bergen said in a statement.
The new investors will be selected in mutual consent between KBC
and the Slovenian government, KBC said.
The NLB group comprises 61 units operating in 18 markets,
including 16 banks, 11 leasing companies, 12 financial companies
and five insurers. NLB reported a 17 per cent rise in its 2007
group net profit to a preliminary, €39.8m.
According to SeeNews, NLB is currently in the process of raising
€300m in additional capital without the participation of KBC.
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