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Slovenia: Apollo & AIK, Gorenjska Banka interested in buying

Low bids, transparent process required

20 September, 12:24
(ANSA) - LUBIANA - AIK Bank, one of the largest business banks in the Balkan region based in Belgrade, and the US Apollo Investment Fund L.P., private equity firm specializing in operations with companies and bonds in hardship, have submitted a binding offer for Gorenjska banka, a bank which is based in Upper Carniola, Slovenia, but the price offered was considered to be in line with sellers' expectations. According to sources cited by the daily newspaper Delo, Apollo, formerly owner of Nova KBM, Post Bank and Raiffeisen Slovenia, has submitted an offer, around 230 euros per share, while Serbia's AIK, which already owns more than 20% of Gorenjska banka, offered around 280 euros, against a liquidation value which is 298 per share. Whereas Apollo said to be willing to relaunch after a further due diligence check, AIK Bank said to be ready to make a revised offer, provided that the sales process is carried out transparently. (ANSA).

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