April 26 (SeeNews) - Slovenia's mutual fund and asset management company NLB Skladi, part of banking group Nova Ljubljanska Banka [LJSE:NLBR], has received approval to acquire North Macedonia's peer Generali Investments A.D. Skopje, the local Securities and Exchange Commission (SEC) said on Friday.
The planned transaction needs to be completed within 90 days after receiving the approval, North Macedonia's SEC said in a notice.
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NLB Skladi said in November it has agreed to buy the asset management company from Ljubljana-based Generali Investments and three individual shareholders. The value of the deal was not disclosed.
Ljubljana-based Generali Investments holds a 98.34% stake in the Skopje-based unit, according to data on the website of Generali Investments A.D. Skopje. The names of the other shareholders are not displayed.