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Report: Binding bids in Serbia's Komercijalna banka tender to be filed by Dec. 2

Serbia expects investors interested in purchasing a controlling stake in Komercijalna banka a.d. Beograd to file their binding bids by Dec. 2, news agency Tanjug reported Oct. 15.

Four nonbinding bids were filed by investors in the first phase of a tender for an 83.23% holding in Komercijalna, and a due diligence procedure is now underway before the bidders submit their binding offers, Serbian Finance Minister Siniša Mali was cited as saying.

Slovenia-based Nova Ljubljanska banka d.d. reportedly submitted the highest nonbinding bid for Komercijalna, offering to pay €450 million for the 83.23% stake. Meanwhile, 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.