Sale of Komercijalna banka signed, Serbia to earn EUR 450 MILLION

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Photo: BIZLife

An agreement on the sale of Komercijalna banka to NLB bank was signed at the Serbian Ministry of Finance. As the Ministry announced, the Minister Sinisa Mali, the President of the NLB Executive Board Blaz Brodnjak and a member of the Executive Board of that bank Archibald Kremser signed a Share Purchase Agreement in connection with 83.23% of ordinary shares of Komercijalna banka a.d Belgrade. By signing this agreement, Komercijalna banka will acquire a new strategic partner, that will also take over the management of the bank after transaction is complete. By the transaction end date the Republic of Serbia will generate total revenue of more than EUR 450 million.

Source: BIZLife, Politika, Tanjug

Photo: BIZLife