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Competition Protection Agency allows Abanka takeover | NKBM

Competition protection agency allows Abanka takeover

Competition Protection Agency allows Abanka takeover

5 December 2019
The Slovenian Competition Protection Agency (AVK) green-lighted the takeover of Abanka d.d. by Nova Kreditna Banka Maribor d.d. (Nova KBM).

Nova KBM signed contract for the purchase of shares of Abanka with the Slovenian Sovereign Holding (SDH) in June 2019. This week, Nova KBM received a clearance from AVK, allowing Nova KBM to proceed with the acquisition activities.

To conclude the transaction, further regulatory approvals are required. Until the transaction has been finalized, both entities will continue to operate as usualas independent legal entities.

Nova KBM continues to invest its efforts in being the most accessible bank in Slovenia, its footprint will remain strong and operations present across all of its regions.

John Denhof, president of the Management Board of Nova KBM, welcomed the AVK's decision, labelling it as an »incredible opportunity for Nova KBM and Abanka to create a stronger combined bank, which is positive for the Slovenia's economy.«

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