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BRIEF NEWS BULLETIN IN ENGLISH NO. 4586 HINA ZAGREB, APRIL 12

HR-BULLETIN-Politika BRIEF NEWS BULLETIN IN ENGLISH NO. 4586 HINA ZAGREB, APRIL 12 RIJECKA BANKA SOLD TO ERSTE BANK AT PRICE OF EUR155 MILLIONZAGREB, April 12 (Hina) - The management of the State Agency for Bank Rehabilitation and Insurance of Savings Deposits (DAB) has decided to sell 85 percent of Rijecka Banka shares to the Vienna-based Erste Bank. Erste Bank was the one of three bidders which offered the highest bid - 55 million euros for the shares and 100 million euros for recapitalisation. The other two bidders were Bank Austria and Belgium's KBC bank. DAB director Marinko Filipovic said at a press conference on Friday that the shares were sold at a price of around 12.8 euro per share, which is similar to the price offered by Bayerische Landesbank two years ago, when it bought Rijecka Banka. The contract on the purchase should be signed in seven to ten days, after which inspections into Rijecka Banka's business activities will be carried out. The minimum which the buyer had to o

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