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Sava's management board picks buyer for Gorenjska banka stake

Slovenian finance and tourism company Sava said Dec. 13 that its management board approved the final proposal to sell its stake in Gorenjska banka dd Kranj and passed a resolution on convening a general shareholder meeting to approve the sale.

Sava did not disclose the name of the buyer, but STA news agency reported the same day that according to informal information, the 37.6% stake will be acquired by Serbia-based AIK Banka a.d. Beograd, which already owns a 21% stake in Slovenia-based Gorenjska.

The Slovenian central bank told Sava in 2015 to sell its holding in Gorenjska banka within six months. In 2016, Sava formed a consortium with other shareholders to sell around 55% of Gorenjska.

Reuters reported in October that Sava received a €500,000 fine from the central bank for failing to divest the stake within the set deadline.