Steiermärkische Bank und Sparkassen AG signed a share purchase agreement to acquire a 74.53% stake in Ohridska banka AD from Société Générale Société anonyme (ENXTPA:GLE) for MKD 2.4 billion on February 28, 2019. As part of consideration, Steiermärkische Bank offered MKD 6,298.79 per Ohridska banka share. In related transactions, Steiermärkische Bank und Sparkassen AG offered to acquire the remaining 25.47% stake in Ohridska banka AD on February 28, 2019, through the means of a mandatory tender offer. OTP Bank agreed to acquire Societe Generale Montenegro from Société Générale Société anonyme on February 28, 2019. As a result of the transaction, Société Générale will exit its stake in Ohridska banka. Following the completion of this transaction along with the completion of a mandatory tender offer, Steiermärkische Bank will own complete 100% in Ohridska Banka.

The completion of the transaction is conditional upon successful closing of the mandatory takeover by Steiermärkische Sparkasse. The completion of the tender offer is, in turn, is subject to the approval of the European Central Bank as well as the North Macedonian National Bank, capital market authorities and competition authorities. After receiving the approvals of the European Central Bank, the North Macedonian National Bank and the Capital market and competition authorities, on September 23, 2019, the decision of the Securities and Exchange Commission was received. On September 24, 2019 the takeover Bid Period started and is expected to end on the October 21, 2019. Société Générale Société anonyme expects sale of Ohridska Banka Societe Generale and Societe Generale Montenegro have a positive impact on Société Générale's CET1 ratio of around 2 basis points and to reduce the risk weighted assets by around €1.1 billion (MKD 67.8 billion). Lazard-Natixis acted as financial advisor to Société Générale. Oliver Werner, Sixtus Ferdinand Kraus, Simon Cook, Mario Maier, Peter Huber, Marija Filipovska, Ana Bozarova, Elena Miceva Stojchevska, Dieter Zandler and Raško Radovanovic of CMS acted as legal advisors for Steiermärkische Bank. Alexandre de Verdun of Jones Day acted as legal advisor to Societe Generale.KPMG acted as accountant to Steiermärkische Bank und Sparkassen AG in the transaction.

Steiermärkische Bank und Sparkassen AG completed the acquisition of 74.53% stake in Ohridska banka AD from Société Générale Société anonyme (ENXTPA:GLE) on October 28, 2019.