Austria’s Steiermarkische Bank und Sparkassen completes buyout of North Macedonia’s Ohridska Banka

North Macedonia-based lender Ohridska Banka said on October 29 that Austria’s Steiermarkische Bank und Sparkassen has successfully closed a buyout bid for a majority stake in the company.

Ohridska Banka provided no further details.

In a separate statement on October 25, North Macedonia’s financial regulator said that 143 shareholders, controlling a total of 91.5733 per cent in Ohridska Banka, had accepted Steiermarkische Bank und Sparkassen’s buyout offer priced at 6,298.79 denars per share.

Steiermarkische Bank und Sparkassen will pay a total of 2.98 billion denars (48.4 million euros) for 472,839 shares in Ohridska Banka, representing the 91.5733 per cent holding.

The minimum threshold for considering the bid successful was the acquisition of 384,844 shares.

Ohridska Banka shares last traded on the stock exchange in Skopje on October 18 at a price of 6,150 denars.

In February, French lender Societe Generale agreed to sell its 74.53 per cent stake in Ohridska Banka to Steiermarkische Bank und Sparkassen for 2.42 billion denars, or 6,298.79 denars per share.

Source: SeeNews