ZAGREBACKA BANK BECOMES MAJORITY OWNER OF VARAZDINSKA BANK ZAGREB, June 6 (Hina) - The Zagrebacka Bank on Tuesday announced that in the period between May 11 and June 6 it bought the majority share (59.15 percent) of the Varazdinska
Bank. The Supervisory Board of the Varazdinska Bank in late May unanimously chose the Zagrebacka Bank as its strategic partner on the basis of offers sent by the Zagrebacka Bank and the Raiffeisenbank. The Zagrebacka Bank offered 305 kuna per share whereas the Raiffeisenbank offered 300 kuna and the possibility of recapitalisation. After it considered the offered prices and other conditions, the Varazdinska Bank decided on the offer of the Zagrebacka Bank because it included a better price and enabled the bank to keep its name and autonomy.(hina) mm rml
ZAGREB, June 6 (Hina) - The Zagrebacka Bank on Tuesday announced
that in the period between May 11 and June 6 it bought the majority
share (59.15 percent) of the Varazdinska Bank.
The Supervisory Board of the Varazdinska Bank in late May
unanimously chose the Zagrebacka Bank as its strategic partner on
the basis of offers sent by the Zagrebacka Bank and the
Raiffeisenbank.
The Zagrebacka Bank offered 305 kuna per share whereas the
Raiffeisenbank offered 300 kuna and the possibility of
recapitalisation.
After it considered the offered prices and other conditions, the
Varazdinska Bank decided on the offer of the Zagrebacka Bank
because it included a better price and enabled the bank to keep its
name and autonomy.
(hina) mm rml