October 15, 2018 / 2:57 PM / a month ago

Advent starts preparations for IPO, sale of Addiko bank -sources

FRANKFURT, Oct 15 (Reuters) - Private equity group Advent is starting preparations for an initial public offering or sale of its Vienna-based bank Addiko, which has a strong presence in the Balkans, people close to the matter said.

The buyout group is working with Goldman Sachs and Citi on an exit process, which will primarily focus on a potential stock market listing, while also allowing suitors to bid for the lender which emerged from collapsed Hypo Alpe Adria.

Advent, and Goldman Sachs declined to comment. Citi was not immediately available for comment. ($1 = 0.8629 euros) (Reporting by Arno Schuetze; Editing by Maria Sheahan)

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