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Slovenia to start roadshows for the sale of NLB on Monday-report
March 7, 2017 / 11:51 AM / 9 months ago

Slovenia to start roadshows for the sale of NLB on Monday-report

LJUBLJANA, March 7 (Reuters) - Slovenia will start roadshows ahead of the sale of its largest bank, state-owned Nova Ljubljanska Banka (NLB), on Monday, daily paper Finance said on Tuesday, citing unofficial sources.

It said the shows would take place in London and New York.

State-owned investment fund Slovenian Sovereign Holding (SDH), which is coordinating the privatisation of a 75 percent stake in NLB, refused to confirm or reject the report.

“At present NLB and SDH are proceeding with activities for the preparation of the transaction,” SDH told Reuters in a statement, adding it could not offer more details.

Finance said another round of road shows would be held in April with the price for NLB expected to be determined by April 22. The sale could be completed by May 15, it reported.

NLB, which was rescued by the state in 2013, last week reported a 20 percent rise of 2016 group net profit.

Slovenia was required to sell 75 percent of NLB by the end of 2017 as part of a deal with the European Commission, which approved state aid to the bank in 2013.

Reporting By Marja Novak; Editing by Edmund Blair

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