January 26, 2019 / 9:41 AM / 6 months ago

Serbia's AIK plans new bid for all of Slovenian Gorenjska Banka

LJUBLJANA (Reuters) - Serbian AIK bank plans to bid for all of Slovenia’s Gorenjska Banka within 30 days, AIK said on Saturday.

The bid price was not disclosed but AIK last year offered to pay 298 euros per Gorenjska share which would value the whole bank at 115.6 million euros ($131.92 million).

That deal fell through when the Serbian and Slovenian central banks revoked permission for the takeover after the Serbian central bank discovered irregularities in AIK’s operations and said the acquisition could further worsen AIK’s financial position.

Since then the irregularities have been removed and both central banks renewed permission for the takeover late last year.

AIK and Gorenjska were not immediately available for comment.

AIK at present owns about 33 percent of Gorenjska, which is Slovenia’s seventh largest bank measured by balance sheet assets with a market stake of about 4.7 percent.

Gorenjska’s largest owner is Slovenian financial and tourism group Sava, which has been trying to sell its 37.7 percent stake to reduce debt.

Reporting By Marja Novak; Editing by Kirsten Donovan

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