Alta Pay withdraws request for increase of stake in Addiko Bank

There is one candidate less in the competition for the Austrian Addiko Bank, as the Serbian company Alta Pay has withdrawn the request to the regulator for an increase of the stake in Addiko Bank, announced the Financial Market Authority (FMA) of Austria.

As SEEbiz reports, Alta Pay currently has a nearly 10% (9.63%) stake. The bank has withdrawn the request for the non-ban on the acquisition of a stake higher than 10%, of which Addiko Bank AG was informed on Monday by the FMA.

Each company which wants to acquire more than 10% and less than 30% of the bank must file such a request to the regulator, said the spokesperson of Addiko on Monday for APA. Beginning with 30%, a mandatory offer is required.

The increase is probably excluded with the withdrawal of the request. Alta Pay wanted to increase its stake to slightly under 30% through various optional agreements with other Addiko stakeholders.

Two players remain in the competition: the Slovenian NLB (Nova ljubljanska banka) and Agri Europe Cyprus. NLB offers EUR 20 per share with dividend, whereas Agri Europe offers EUR 16.24 per share. According to the Addiko spokesperson, both offers are valid until August 16. The offers can also be increased.

Agri Europe already owns 10% of Addiko, and with its offer, it seeks to acquire another 17%. NLB, on the other hand, is aiming for “a substantial majority stake.” The minimum acceptance threshold is set at 75% of Addiko’s shares.

Addiko Bank

Alta Pay

NLB

Nova ljubljanska banka

Agri Europe Cyprus

Financial Market Authority of Austria

FMA

purchase of stake in Addiko Bank

stake in Addiko Bank