May 26 (SeeNews) - Slovenia's Nova Ljubljanska Banka (NLB) [LJE:NLBR] plans to launch a squeeze-out of the shares in Belgrade-based Komercijalna Banka [BEL:KMBN] it does not own yet, NLB said.
NLB reached the threshold for the obligatory squeezing of minority shareholders in Komercijalna on May 23, when it acquired 442,799 ordinary shares in Komercijalna banka and expanded its share in the Belgrade-based lender to 90.2%, it said in a filing with the Ljubljana Stock Exchange on Wednesday.
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The Slovenian bank expects that the squeeze out of minority shareholders will have a neutral impact on the group's profit or loss, NLB said.
Increasing the ownership in Komercijalna Banka to 100% is in line with the strategic guidelines of NLB, the Slovenian lender added.
NLB completed the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka for 394.7 million euro ($421.9 million) on December 30, 2020, becoming the third-largest banking group in Serbia. In April 2021, NLB lifted its stake in Komercijalna Banka to 88% following the completion of a buyout bid.
($ = 0.93556 euro)
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