Serbia reached an agreement with the European Bank for Reconstruction and Development and IFC Capitalization Fund to acquire their combined 34.58% stake in Komercijalna banka a.d. Beograd.
The Serbian state will hold an 83.23% stake in the bank once the deal completes.
The transaction follows the government's acquisition of a 6.89% stake in Komercijalna from DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH and Swedfund International AB for 5.1 billion Serbian dinars. It completes the consolidation of the bank's ownership structure and will allow Serbia to offer a total of 83.23% of the bank's ordinary shares for sale in a bid to facilitate its privatization process.
As of Sept. 4, US$1 was equivalent to 106.63 Serbian dinars.
