An agreement between the Central European investment group Penta Investments, and Dexia Kommunalkredit Bank (DKB), a subsidiary of Dexia, has been reached on the sale of 88.71% stake in Dexia banka Slovensko to Penta.
The transaction is subject to the approval the National Bank of Slovakia and the Antimonopoly Office of the Slovak Republic. The amount of the transaction will not be published disclosed.
After the completion of this transaction, a take over bid will be launched by the acquirer towards the minority shareholders.
“Dexia banka Slovensko has a well-balanced business model. Penta intends to preserve the existing long term partnership with the municipalities, which will remain a pillar of the model. We also see growth opportunities, especially in the Slovak retail banking market. We shall expand the retail operations of the bank and strengthen its position on the retail market. Our strategy will be driven by top quality services for these clients and underlined by the expansion of the branch network,“ Jozef Oravkin, partner of Penta Investments said.
“Our experience from the banking sector, in which we operate through Privatbanka, proves that the Slovak banking market has room for consolidation. Therefore, we decided to expand our investments into the Slovak banking sector,” Jozef Oravkin added.