According to media, NLB Acquired the 83.23% stake in Komercijalna Banka for EUR 450m.

According to media,  NLB Group has acquired the state owned stake of 83.23% in Komercijalna Banka. The local media has covered that NLB has acquired the 83.23% stake for EUR 450m, which has not yet been officially confirmed. To put things into a perspective, this puts the transaction multiple at a P/B of 0.88.

However it is important to state that the media has once before stated the same pricing, while NLB has refuted such a price. Therefore,  there is a real possibility that the mentioned price overstated.

We will keep you posted as soon as new information arise.

To read more about the privatization of Komercijalna Banka click here.