12 December 2017

NLB d.d., Ljubljana and NLB Banka AD Skopje have closed a purchase and sales agreement with the reinsurance company Sava Re d.d., Ljubljana, for the sale of 100% shares of NLB Nov penziski fond AD, Skopje

Today, December 12th  2017 in Skopje NLB d.d., Ljubljana and NLB Banka AD Skopje closed  a purchase and sales agreement in Skopje with the reinsurance company Sava Re d.d., Ljubljana for the sale of 100% of shares of the company NLB Nov penziski fond AD, Skopje. NLB d.d. holds a 51% stake in the company and NLB Banka AD Skopje owns 49% shares. The ownership of the target company shares will be transferred to the acquirer after all suspensive conditions have been met.

In March 2017, NLB d.d. and NLB Banka AD Skopje authorised NLB d.d., Corporate Finance, to conduct an open and transparent sales procedure for 100% shares of NLB Nov penziski fond AD, Skopje. The sale was conducted in two phases. In the first phase, which lasted by May 2017, interested investors were invited to submit binding offers. The procedure was run in a professional manner, in accordance with international good practices and in view of including all potentially interested investors. The procedure was fully transparent.     

Nevertheless, the Republic of Macedonia remains one of the NLB Group’s strategic markets. NLB Banka AD Skopje is one of the largest and most important banks in the NLB Group and in the future, with further business development, the NLB Group is going to increase the volume of its operations in the Republic of Macedonia even further.


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