Slovenia invites binding bids for second-largest bank NKBM

Telekom Slovenije, D.d

05/08/2014 16:15

LJUBLJANA, Aug 5 (Reuters) - Slovenia's state investment 
firm SDH, which is in charge of selling state assets, on Tuesday 
invited investors to submit binding bids for Slovenia's 
second-largest bank Nova KBM (NKBM). 
    "We expect the binding bids in October. The invited bidders 
are those which submitted completed bids in the first round and 
offered the best purchase terms," SDH said in a statement. 
    It did not say who the bidders for 100 percent of 
state-owned NKBM were. 
    According to local media, Slovenia received six non-binding 
bids last month, including from two banks and four investment 
funds. Hungary's OTP  OTPB.BU  declined to comment on reports it 
was one of the interested banks. 
    Selling off state-owned companies is seen as a key component 
of Slovenia's ability to stabilise its finances and its economy 
after the government had to spend 3 billion euros last year to 
rescue troubled banks and narrowly avoided having to seek an 
international bailout.  
    The outgoing government has earmarked 15 companies for 
privatisation, and has already sold two of them. Others on the 
list include NKBM, airport Aerodrom Ljubljana  ARPO.LJ  and 
telecom firm Telekom  TLSG.LJ . 
    A recently formed centre-left party SMC, led by Miro Cerar, 
won the election last month but has yet to complete talks with 
coalition partners on forming the new cabinet.  
    Slovenia, which joined the European Union in 2004 and the 
euro zone in 2007, has for years been reluctant to sell  
major companies, citing national interests. Its economy is still 
largely state run. 
 
 (Reporting by Almir Demirovic, writing by Igor Ilic in Zagreb, 
editing by David Evans) 
 ((igor.ilic@thomsonreuters.com)(+385 1 4899 970)(mobile +385 98 
334 053)) 
 
Keywords: SLOVENIA SALE