Reuters: OTP to raise offer for NKBM
Hungary's OTP bank is currently in negotiations with its Slovenian state-owned peer Nova KBM (NKBM) and is planning to raise its offer if the bank's Serbian branches and leasing unit are removed from the deal, international news service Reuters reported today citing an OTP insider. An OTP spokesman failed to comment on a query made by Reuters.
According to Slovenian newspapers, U.S. private equity fund Apollo placed a rival offer of €200 mln for the acquiring NKBM. The Slovenian government is scheduled to choose a buyer by the end of February.
"We offered €130 mln but we think that the Serbian branches and the leasing unit have a negative value," an unidentified senior source told Reuters. "We told them that if those are taken out, we'd be willing to raise our offer […] We are actually in talks, even though our offer was clearly lower."
Nova KBM is Slovenia's second-largest lender.
OTP Bank has units throughout the CEE region but not in Slovenia.
Moody's Affirms Budapest's 'Baa3' Rating
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
