Serbian Alta Group wants to take over Stopanska Banka Bitola

Stopanska Banka AD Bitola has received an official notification from Alta Group doo, headquartered in Belgrade, about the intention to offer the acquisition of up to 100% of regular voting-right shares issued by the bank. The planned takeover price is 3,777 denars, that is, slightly less than RSD 7,200 per share.

In the notification submitted to the bank, Alta Group emphasizes that the realization of the bid is condition on obtaining a range of regulatory approvals, including a previous approval of the National Bank of the Republic of North Macedonia, as well as an approval of concentration from the Commission for Protection of Competition of Serbia (“Foreign Approval”).

According to the Law on Acquisition of Joint-Stock Companies, the offer procedure can continue only after these approvals are obtained, following which a request for the permit for a takeover bid will be submitted to the Securities and Exchange Commission of the Republic of North Macedonia.

Alta Group announces that, if the foreign approval is not received within 12 months, or if the competent institutions explicitly refuse to issue it, the intention will be considered withdrawn and no takeover bid will be made. In that case, the company will act in accordance with Article 26, Paragraph 6 of the relevant law and notify the public about the withdrawal of the intention.

ALTA GROUP DOO BEOGRAD

Komisija za zaštitu konkurencije Srbije

Stopanska banka AD Bitola

Alta Group doo

National Bank of the Republic of North Macedonia

Commission for Protection of Competition of Serbia

bank takeover