Banco Popolare Sc announces disposal of Banco Popolare Croatia

Friday, 31 Jan 2014 09:45am EST 

Banco Popolare Sc:Says it signed with OTP Banka Hrvatska, a bank controlled by the Hungarian group OPT, an agreement to sell the entire shareholding interest held by Banco Popolare in Banco Popolare Croatia d.d.Says the deal is subject to the prior authorizations as required by the competent Supervisory Authorities.Says the consideration for the sale of the interest in Banco Popolare Croatia representing the entire stake held by Banco Popolare, has been agreed in 106,977,375 Croatian kuna (corresponding to about 14 million euros).Says the stake corresponds to about 99 pct of the common share capital and to about 92.5 pct of the preferred share capital.Says Banco Popolare was advised by KPMG Corporate Finance, acting as financial advisor, and by Clifford Chance, acting as legal advisor. 

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