Raiffeisen Bank Challenges Addiko Bank.
Raiffeisen Bank International (RBI) wants to buy Addiko Bank. The bank is offering 23.05 euros per share. Another bank, Nova Ljubljanska banka, is also offering more money.
Raiffeisen Bank International made an initial offer of 23.05 euros for each Addiko Bank share. Nova Ljubljanska banka, a Slovenian bank, then increased its offer to 29 euros per share. This higher bid creates competition between the two banks for the acquisition of Addiko Bank. The deal is expected to finish by the end of this year. RBI plans to split Addiko Bank after the purchase.
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Highlights
RBI Offers 23.05 Euros
Raiffeisen Bank International is offering 23.05 euros per Addiko Bank share.
Slovenian Bank Makes Offer
The Nova Ljubljanska banka has offered 29 euros per Addiko Bank share.
Competition for Addiko
The offer from the Slovenian bank creates competition for RBI.
Deal Completion Expected
The acquisition is expected to finish by the fourth quarter.
RBI Plans Separation
RBI intends to separate Addiko Bank after the acquisition.