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Report: Montenegro-based Nova Banka gets new owner

Adriatic Capital completed the acquisition of Nova Banka AD Podgorica, having purchased 299,511,761 shares of the lender for €7.1 million, SEENews reported, citing data from the Montenegro Stock Exchange.

The new owner agreed to purchase the bank from Azerbaijan Global Investments unit Azmont Investments in July 2019 for a price of 2.37 cents per share.

Adriatic Capital provides consulting, investment and asset management services related to investment opportunities in Montenegro in the field of tourism, real estate, energy and other related industries.