NLB offers 29 euros per share for Addiko Bank

The largest Slovenian bank, Nova Ljubljanska banka (NLB), announced on May 13 that it had published the prospectus for a voluntary public takeover offer to acquire a controlling stake in the Austrian Addiko Bank. This formally opened the acceptance period for shareholders. Addiko Bank, headquartered in Vienna, operates in six markets in Central and South Eastern Europe - Austria, Croatia, Slovenia, Bosnia and Herzegovina, Serbia and Montenegro - and focuses on lending to private customers and small and medium-sized enterprises (SMEs). The planned acquisition would strengthen NLB's regional presence and expand its business activities beyond the Western Balkans. Ljubljana-based NLB is offering EUR 29 per share in cash for up to 19.5 million ordinary shares with no par value, representing 100 percent of Addiko's issued share capital. The acceptance period for the offer runs from May 13 to July 22, the bank announced in a stock exchange release. According to NLB, the minimum requirement for a successful takeover bid is the acquisition of at least 75 percent of the total voting rights, which corresponds to 14,465,357 Addiko shares. If all conditions attached to the offer are met, the acceptance period will be extended for a further period from July 27, 2026 to October 27, 2026. The transaction remains subject to several conditions, including the approval of competition and banking authorities and the completion of the qualifying shareholder process with the European Central Bank. NLB also stated that the deadline for fulfilling all conditions of the takeover offer is May 31, 2027. Raiffeisen Bank International is also seeking to take over Addiko Bank and is currently offering 26.50 euros per share. The post NLB offers 29 euros per share for Addiko Bank appeared first on ostwirtschaft.de.