March 17, 2017 / 10:48 AM / 6 months ago

Slovenia's NLB bank puts Macedonian pension business up for sale

LJUBLJANA, March 17 (Reuters) - Slovenia’s largest bank Nova Ljubljanska Banka (NLB), which is due to be privatised this year, said it has put its Macedonian pension business up for sale.

NLB Nov Penziski Fond AD Skopje manages two pension funds with combined assets of about 370 million euros ($399 million), NLB said in a statement on Friday, with no further details.

NLB, which was rescued by the state in 2013, is trying to consolidate its business ahead of privatisation.

The government agreed to sell NLB to win European Commission approval for state aid in 2013. It plans to sell 75 percent of NLB by the end of this year through an initial public offering and will keep 25 percent of the bank to have a say in key business decisions.

NLB also has a bank in Macedonia, which is not for sale. ($1 = 0.9282 euros) (Reporting By Marja Novak; Editing by Susan Fenton)

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