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Slovenia abandons the sale of largest bank NLB
June 8, 2017 / 4:59 PM / 4 months ago

Slovenia abandons the sale of largest bank NLB

LJUBLJANA, June 8 (Reuters) - Slovenia will not proceed with the sale of the country’s largest bank, Nova Ljubljanska Banka (NLB), due to a low suggested price and various risks surrounding the sale, Prime Minister Miro Cerar told reporters after a government meeting on Thursday.

Slovenia promised to sell 50 percent of NLB this year and another 25 percent in 2018 in exchange for the European Commission’s approval of state aid to the bank in 2013. (Reporting by Marja Novak; Editing by Louise Ireland)

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