Nova KBM
 

Nova KBM has received offers for the purchase of its 51 percent stake in Zavarovalnica Maribor | NKBM

In accordance with provisions of the Code of Best Practice for Warsaw Stock Exchange Listed Companies, the Ljubljana Stock Exchange Rules and the applicable legislation, Nova KBM d.d. hereby publishes the following announcement:

Nova KBM has received offers for the purchase of its 51 percent stake in Zavarovalnica Maribor

8 November 2012
OBVESTILA
In accordance with provisions of the Code of Best Practice for Warsaw Stock Exchange Listed Companies, the Ljubljana Stock Exchange Rules and the applicable legislation, Nova KBM d.d. hereby publishes the following announcement:
 

As part of the process of selling its 51 percent stake in Zavarovalnica Maribor, Nova KBM d.d. has received several bids from potential buyers that have conducted a due diligence review of the insurance company, including a binding offer from Pozavarovalnica Sava d.d. (Sava Re) and, once again, a non-binding offer from KD Group d.d. Both of these institutions have publicly announced their intention to bid for Zavarovalnica Maribor. The Bank will carefully examine the offers and will, on the basis of appropriate criteria, make a decision with whom to continue negotiations for the sale of its 51 percent stake in Zavarovalnica Maribor. 


The sale of its stake in Zavarovalnica Maribor is one of the projects Nova KBM has undertaken with the aim of improving its capital position. Activities related to a potential redemption of subordinated instruments and capital raising are also under way. The decision with respect to the share capital increase shall be reached by the Shareholders’ Meeting, which is expected to take place by the end of the year.