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Report: NLB files highest bid for Serbia's Komercijalna banka

Slovenia-based Nova Ljubljanska banka d.d. submitted the highest nonbinding bid for an 83.23% holding in Serbia's Komercijalna banka a.d. Beograd, SEENews reported, citing Serbian daily Danas.

NLB offered to pay €450 million for the stake, equivalent to around 80% of the book value of the shares, according to the Sept. 19 report. AIK Banka a.d. Beograd and Raiffeisen Bank International AG unit Raiffeisen banka a.d. Beograd submitted nonbinding bids of €430 million and €390 million, respectively, according to the report.

The Serbian government recently agreed to increase its stake in Komercijalna banka by acquiring a combined 34.58% stake from the European Bank for Reconstruction and Development and the International Finance Corp., as it seeks to return the bank to private ownership. Upon completion of the acquisition, Serbia will hold an 83.23% stake in the lender, which will be sold to the winning bidder.