The Antimonopoly Office SR and the National Bank of Slovakia consented to the transaction.
"Dexia banka Slovensko will continue in cooperation with the municipal sector, for which it represents a solid long-term partner. We seek to strengthen our bank's operations in the retail segment, where we see room for growth," Iain Child, Penta investment group partner, said.
Penta as a new majority shareholder of Dexia banka Slovensko will fulfill its obligation stipulated by law and submit to minority shareholders a mandatory takeover offer. This announcement will appear on 1 April 2011 in the SME daily. The offer itself will be published within ten working days, as it is a subject to approval by the National Bank of Slovakia. Validity of the mandatory offer lasts 60 days. The minority shareholders will be informed about its situation in the press and that during the entire period of the validity of the mandatory offer.
The Agreement on the acquisition of the majority stake of Dexia banka Slovensko was signed between the invesment group Penta and Dexia Kommunalkredit Bank, daughter company of Dexia SA, in November 2010.
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