Government of Serbia reached an agreement to acquire an additional 34.58% stake in Komercijalna banka a.d. (BELEX:KMBN) from The European Bank for Reconstruction and Development and IFC Capitalisation Fund, managed by IFC Asset Management Company, LLC on September 5, 2019. Following completion of the transaction, the Government of Serbia will own 83.23% of the ordinary shares of the Bank to facilitate the privatization of the Bank under the ongoing privatization process. Government of Serbia completed the acquisition of an additional 34.58% stake in Komercijalna banka a.d. (BELEX:KMBN) from The European Bank for Reconstruction and Development and IFC Capitalisation Fund, managed by IFC Asset Management Company, LLC for approximately €220 million on November 26, 2019.