KBC completes sale of 22 pct stake in Slovenia's NLB

BRUSSELS, March 12 Tue Mar 12, 2013 3:08am EDT

Related Topics

BRUSSELS, March 12 (Reuters) - Belgian bank and insurance group KBC said on Tuesday it had completed the sale of its 22 percent stake in NLB to the Republic of Slovenia for 2.77 million euros ($3.6 million).

The company said the sale, at 1 euro per share, would give rise to a negative impact on KBC's earnings of 0.1 billion, which was already booked in the fourth quarter of 2012. KBC said the impact on its capital was negligible.

"KBC is now no longer a shareholder of NLB, complying with the request of the European Commission to divest from NLB," KBC said. ($1 = 0.7684 euros) (Reporting By Philip Blenkinsop, editing by Robert-Jan Bartunek)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.