Nova Ljubljanska Banka d.d., Ljubljana (LJSE:NLBR) signed a draft purchase agreement to acquire 83.2% stake in Komercijalna banka a.d. Beograd (BELEX:KMBN) from Republic of Serbia for approximately €390 million on February 20, 2020. On February 26, 2020, a share purchase agreement is signed. The consideration is payable in cash on completion.

The transaction is subject to mandatory regulatory and anti-trust approvals from, amongst others, the European Central Bank, Bank of Slovenia and the National Bank of Serbia. On December 22, 2020, regulatory approvals for the transaction were received. The deal is expected to be completed by the end of 2020.

UBS Investment Bank acted as financial advisor, Denise Hamer, Selma Mujezinovic, Petar Grozdanovic and Branislav Maric of Kinstellar acted as legal advisors and Ljubljana PricewaterhouseCoopers d.o.o. acted as accountant to Nova Ljubljanska Banka d.d., Ljubljana. Lazard, Prica & Partners and Aleksandar Preradovic of AP Legal acted as financial and legal advisor to Serbia Ministry of Finance.