Following completion of the transaction with EBRD and IFC Capitalization Fund, the Republic of Serbia will own 83.2% of the ordinary shares of the Bank.

European Bank for Reconstruction and Development (EBRD) has published a statement that the Republic of Serbia has reached an agreement with EBRD and IFC Capitalization Fund concerning the sale of 34.58% of the ordinary shares in Komercijalna Banka.

Following completion of the mentioned transaction, the Republic of Serbia will own 83.2% of the ordinary shares of the Bank. As a reminder, the transaction follows the acquisition by the Republic of Serbia of 6.89% of ordinary shares from Swedfund and DEG which was completed in June 2019.

The transaction completes the consolidation of the ownership structure of the Bank and will allow the Republic of Serbia to offer for sale a total of 83.2% of the Bank’s shares to enable the privatization of the Bank under the ongoing privatization process.

As a reminder, the deadline for the submission of non-binding bids has been extended from 23 August to 6 September 2019. To read more about it click here.

Besides that, the company recently published their H1 2019 results, which can be read about here.