Apollo Global Management/EBRD €250 million acquisition of NKBM

Overview:

• Apollo Global Management and the European Bank for Reconstruction and Development (EBRD) have acquired Nova Kreditna Banka Maribor (NKBM) for €250 million.
• The deal will see Apollo take an 80% stake with the EBRD acquiring the remaining 20%.
• The sale is part of Slovenia's wider restructuring plan and the bank is one of the institutions bailed out by the Government in 2013.
• According to The Slovenia Times the deal also includes a pledge by the Slovenian Government to fund potential damages sought by holders of the bank's subordinated debt and equity.

Sam Duke - Editor