Hungary's OTP Bank has announced that the Slovenian competition authority has approved its acquisition of Slovenia's Nova KBM d.d.
According to the announcement by the Hungarian financial institution published on the website of the Budapest Stock Exchange this Thursday, the Slovenian Competition Protection Agency approved, at its meeting on January 31, 2023, the acquisition of 100% shareholding of Nova KBM d.d. by OTP Bank.
The share purchase agreement was signed on May 31, 2021. After obtaining the approval of the European Central Bank on 6 September 2022, and then the approval of the Slovenian competition authority, the share transfer related to the purchase of the bank and the settlement of the purchase price are expected to happen in the following days.
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