Business News

NFD Selling 1.2% Share in NLB Bank

Ljubljana, 02 July (STA) - Financial firm NFD Holding published on Monday a public call for bids for its 1.19% share in Slovenia's biggest bank, NLB. The firm is requesting bids for at least a third of the share at a minimum price of EUR 35 a share by 13 July.

Bids must not be made relative to other bidders and bidders must commit to pay for the stake within 15 days after signing a purchase contract, NFD said in a call for bids published in the daily Delo.

NFD Holding said it reserved the right not to sell the shares to any of the bidders.

The call comes amidst efforts to shore up Slovenia's biggest bank, which has been struggling with bad loans since the onset of the financial crisis. The bank made a loss of EUR 239m last year.

Only last week the shareholders approved a EUR 381m capital injection in order to meet capital requirements from the European Banking Authority and the Slovenian central bank.

As part of the first stage of the capital injection, the bank was scheduled to share new shares at EUR 41 apiece.

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