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Nova KBM started the procedures for the sale of Zavarovalnica Maribor | NKBM

Nova KBM today published the start of procedures for the sale of its 51% shareholding in Zavarovalnica Maribor. The sale of the Bank's shareholding in Zavarovalnica Maribor is a result of the ruling made by the June Shareholders' Meeting requiring the Bank's Management Board to start undertaking activities for the sale of non-core assets of the Nova KBM Group. To ensure the sale is carried out in a professional and transparent manner according to international practice, the Bank selected UniCredit CAIB Slovenia as the adviser for this transaction. The sale of other Nova KBM Group companies is not envisaged; however the Bank’s management board is examining and analysing the sale of some other assets of the Bank.

Nova KBM started the procedures for the sale of Zavarovalnica Maribor

17 August 2012
OBVESTILA
Nova KBM today published the start of procedures for the sale of its 51% shareholding in Zavarovalnica Maribor. The sale of the Bank's shareholding in Zavarovalnica Maribor is a result of the ruling made by the June Shareholders' Meeting requiring the Bank's Management Board to start undertaking activities for the sale of non-core assets of the Nova KBM Group. To ensure the sale is carried out in a professional and transparent manner according to international practice, the Bank selected UniCredit CAIB Slovenia as the adviser for this transaction. The sale of other Nova KBM Group companies is not envisaged; however the Bank’s management board is examining and analysing the sale of some other assets of the Bank.
 

Upon the start of procedures for the sale of Zavarovalnica Maribor, Aleš Hauc, President of Nova KBM's Management Board, pointed out: »We are carefully examining all the options available to increase the Bank's capital, and have already started undertaking activities and measures that will enable the Bank to develop and to continue delivering stable performance. The intended sale of our shareholding in Zavarovalnica Maribor is one of the measures we have taken in this regard. Our decision with respect to the sale of our shareholding in the insurance company will be reached following an assessment of the offers received from potential buyers, taking into consideration all professional criteria and the expected value added for our shareholders and other stakeholders.«


In accordance with the principles of the best international business practice and standards, the selected adviser will soon request the potential buyers of Zavarovalnica Maribor to submit their offers. The details of the sale cannot be disclosed due to confidentiality and price sensitivity. The Bank will keep the shareholders and the interested public updated on the activities related to the sale of Zavarovalnica Maribor in accordance with the principles of equitable provision of information and the rules governing the operations of public limited companies.  


Contrary to the statements in some media, the Bank's Management Board does not, for the time being, envisage the sale of the Bank's shareholding in PBS or any other Nova KBM Group company; however, it is examining and analysing the sale of some other assets of the Bank. Both banks, Nova KBM and PBS, will continue to cooperate within the Nova KBM Group, thus providing synergies in various business segments.