February 15, 2017 / 7:11 AM / in 10 months

Slovenia hopes to get 1 bln euros for 75 pct of bank NLB-newspaper

LJUBLJANA, Feb 15 (Reuters) - Slovenia hopes to sell 75 percent of its largest bank, state-owned Nova Ljubljanska Banka (NLB), for at least 1 billion euros ($1.06 billion), newspaper Delo reported on Wednesday citing unofficial sources.

It said the country might ask the European Commission to allow the sale to be delayed if that price is not reached.

The finance ministry and state investment firm Slovenian Sovereign Holding (SDH), which is in charge of privatisation, gave no immediate comment.

NLB was rescued by the state in 2013 when it received a state capital injection of 1.55 billion euros.

In exchange for the European Commission’s permission for state aid Slovenia was obliged to sell 75 percent of the bank by the end of 2017.

SDH had said it would start the privatisation of NLB after the release of NLB’s 2016 results, which are due on March 6. It said NLB would be sold through an initial public offering. ($1 = 0.9454 euros) (Reporting by Marja Novak; editing by Susan Thomas)

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