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Slovenia pursues plan to sell its largest bank
March 9, 2017 / 11:16 AM / 9 months ago

Slovenia pursues plan to sell its largest bank

LJUBLJANA, March 9 (Reuters) - Slovenia’s privatisation body has sought a valuation of the country’s largest bank, Nova Ljubljanska Banka (NLB), which is due to be sold this year.

NLB, which was rescued by the state in 2013, last week reported a 20 percent increase in 2016 group net profit. The government agreed to sell NLB to win European Commission approval for state aid in 2013.

PricewaterhouseCoopers LLP will assess the bank’s value for state-owned Slovenian Sovereign Holding (SDH), which manages state assets and coordinates privatisation, by April 15.

Slovenia plans to sell 75 percent of NLB through an initial public offering this year, leaving 25 percent in state hands.

Local media said roadshows will start next week and the bank’s sale could be completed by May 15 . SDH declined to give further details. (Reporting by Marja Novak; Editing by Ruth Pitchford)

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