PODGORICA (Montenegro), January 16 (SeeNews) – US-based Adriatic Capital has completed the acquisition of Montenegrin lender Nova Banka [MNG:AZMO] from Azmont Investments, a local subsidiary of Azerbaijan Global Investments (AGI), data from the Montenegro Stock Exchange showed.
Adriatic Capital has purchased the entire capital of Nova Banka, composed of 299,511,761 shares listed on the stock exchange, for a total of 7.1 million euro ($7.9 million) on Wednesday, bourse data showed.
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In July, Azmont Investments said it signed an agreement to sell Nova Banka to Adriatic Capital for 7.1 million euro, or 0.0237 euro per share.
Azmont Investments changed the name of the lender to Nova Banka AD Podgorica from Azmont Banka in September 2016. The bank was established in June 2016 with capital of 11.98 million euro.
Adriatic Capital provides consulting, investment and asset management services related to investment opportunities in Montenegro, with a focus on tourism, real estate, energy, and other related industries.
($ = 0.896253 euro)