KBC: completes acquisition of Slovakia's OTP Banka
(CercleFinance.com) - KBC said late on Thursday that it has completed its acquisition of Slovakian bank OTP Banka Slovensko nine months after the deal was initially announced.
KBC said that it has closed the acquisition of a stake of 99.4% in the bank from Hungary's OTP Bank, with the remaining shares being held by private individuals.
The transaction was completed after it received regulatory approval from the National Bank of Slovakia (NBS), the National Bank of Belgium (NBB), the European Central Bank (ECB) and the Antimonopoly Office of the Slovak Republic.
The next logical step is the legal and operational merger of CSOB with OTP Banka Slovensko, which will reinforce CSOB's current number four position in Slovakia in terms of assets, with a market share of approximately 12.6%, KBC said.
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KBC said that it has closed the acquisition of a stake of 99.4% in the bank from Hungary's OTP Bank, with the remaining shares being held by private individuals.
The transaction was completed after it received regulatory approval from the National Bank of Slovakia (NBS), the National Bank of Belgium (NBB), the European Central Bank (ECB) and the Antimonopoly Office of the Slovak Republic.
The next logical step is the legal and operational merger of CSOB with OTP Banka Slovensko, which will reinforce CSOB's current number four position in Slovakia in terms of assets, with a market share of approximately 12.6%, KBC said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.