NLB wants to take over Addiko

The major Slovenian bank NLB is once again reaching for Addiko Bank. The Ljubljana-based bank has announced that it will make a voluntary public takeover bid for the Austrian bank, offering 29 euros per share. With this step, NLB is making a second attempt after a first takeover attempt failed two years ago. At that time, shareholders with more than a third of the shares had agreed, but the minimum threshold of 75 percent set by NLB was clearly missed. This time, the bank is relying on a much more attractive offer. The price offered is clearly above the weighted six-month average price of the Addiko share and also noticeably higher than the most recent closing price. At the same time, the offer exceeds a competing, non-binding offer from Raiffeisen Bank International, which had put 23.05 euros per share into play at the beginning of the week. Second attempt with a higher offer NLB argues that the offer is not only financially attractive, but could also put an end to the long-standing uncertainty regarding the ownership structure of Addiko Bank. The aim is to create a clear exit path for shareholders. Strategically, the move fits into the picture. Addiko is active in several countries of the former Yugoslavia and is considered particularly interesting in the private customer and SME business. It also has a comparatively strong digital focus. This is precisely where NLB sees the appeal of the transaction. NLB CEO Blaž Brodnjak described Addiko as an attractive and strategically sensible takeover opportunity. The bank complements the NLB Group's universal banking model and supports its long-term growth plans. For Addiko's customers, a merger could open up access to a broader range of products and services. At the same time, Brodnjak made it clear that NLB wanted to retain Addiko's key employees. Maintaining the know-how and operational substance is crucial in order not to jeopardize the value of the business model. Integration and strategic goals NLB also anticipates a positive financial effect in the medium term. In the first full year after completion, the acquisition is expected to remain neutral in terms of earnings and then make a positive contribution to profits in the second year. Addiko reported risk-weighted assets of EUR 3.9 billion at the end of 2025 - a volume that roughly corresponds to the size of the planned acquisition. Operationally, NLB plans to integrate Addiko's business in five markets with overlaps. For subsidiaries outside the European Union, however, the bank intends to examine separately whether it makes economic sense to retain them or whether a sale at market value would be the better solution. However, the deal is still anything but certain. NLB not only needs a significant majority stake, but also the approval of the supervisory and competition authorities. In addition, there are the usual conditions that must be met for cross-border bank takeovers. However, one thing is already certain: With its new offer, NLB is significantly increasing the pressure in the battle for Addiko. The bank from Ljubljana wants to further expand its role as a leading financial group based in south-eastern Europe - and apparently sees Addiko as a key building block for this. The post NLB wants to take over Addiko appeared first on ostwirtschaft.de.