Business News

Advisers Picked for NKBM Privatisation

Ljubljana, 18 March (STA) - The state-owned SOD fund has picked advisers for legal and financial due diligence of the NKBM bank, a step that signals the start of privatisation of the wholly state-owned bank.

White & Case, one of the biggest law firms in the world, will carry out legal due diligence in conjunction with the Ljubljana law firm Ulčar & Partnerji.

Financial due diligence has been entrusted to KPMG, SOD in a press release on Tuesday.

The state plans to sell NKBM by 2016 at the latest, after it recapitalised it with EUR 870m and renationalised it in mid-December as part of an extensive bank bailout.

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