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Slovenia, EU to discuss NLB sale delay on July 19
July 13, 2017 / 1:37 PM / 4 months ago

Slovenia, EU to discuss NLB sale delay on July 19

LJUBLJANA, July 13 (Reuters) - Slovenian Finance Minister Mateja Vranicar Erman will discuss the sale of Slovenia’s largest bank Nova Ljubljanska Banka (NLB) with European Competition Commissioner Margrethe Vestager on July 19, the finance ministry said.

Sources close to the matter told Reuters that Slovenia will aim to postpone the sale of NLB until the end of 2020 . The finance ministry did not confirm this but said various alternatives were being considered.

Slovenia committed to selling 50 percent of the bank this year and another 25 percent in 2018 in exchange for the European Commission’s approval of state aid to the bank in 2013.

Last month the government abandoned the planned sale of 50 percent of the bank through an initial public offering, saying the suggested price, which valued the bank between 1.1 and 1.4 billion euros ($1.26 to $1.6 billion), was too low. ($1 = 0.8763 euros) (Reporting By Marja Novak; Editing by Keith Weir)

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