NLB's acquisition bid for Addika was also supported by the EBRD

The European Bank for Reconstruction and Development has joined the Slovenian National Bank (NLB) in supporting its takeover bid for Addiko Bank, according to reports from local media. This development comes after NLB received regulatory approval from Austrian authorities to revise its takeover offer, raising the success threshold to 50 percent ownership. The move follows a strategic shift by several major shareholders, including Brandes Investment Partners, which announced its intention to sell its 5.07 percent stake in Addiko through NLB’s offer. Addiko Bank, based in Slovenia, has been at the center of a takeover battle involving multiple financial institutions. Initially, in 2020, the European Bank for Reconstruction and Development (EBRD) attempted to find a strategic buyer for the bank, but there was little interest from potential investors. Now, with the situation evolving, the EBRD has publicly confirmed its intent to sell its entire 8.4 percent holding in Addiko through NLB’s revised offer. This marks a significant change in the dynamics of the takeover process, as the EBRD joins NLB in backing the proposal. The latest update reveals that NLB had previously submitted a takeover offer, which was met with limited support. However, following regulatory clearance from Austria, the bank adjusted its terms, setting the success condition at acquiring at least half of the shares. This adjustment appears to have attracted additional interest, particularly from institutional investors who had already accepted lower offers from Raiffeisen Bank International (RBI). The challenge for NLB remains whether it can convince these investors to switch their commitments to its more competitive offer before the deadline. Brandes Investment Partners, which holds a 5.07 percent stake in Addiko, had earlier signaled its willingness to participate in NLB’s offer. The firm's decision to align with NLB reflects growing confidence in the bank’s restructuring plans and long-term stability. Meanwhile, the EBRD’s endorsement of NLB’s bid adds further weight to the proposal, potentially influencing other stakeholders to reconsider their positions. The takeover process has been marked by intense negotiations and shifting alliances among key players. Initially, RBI had presented a significantly lower offer, which many investors found unattractive. However, with the emergence of NLB and the EBRD as alternative buyers, the landscape has changed dramatically. The involvement of the EBRD, one of the largest shareholders, signals a broader consensus among major stakeholders regarding the viability of NLB’s proposal. As the deadline approaches, the focus shifts to whether NLB can secure enough shareholder support to meet the required threshold. The outcome will determine the future direction of Addiko Bank, which has faced financial challenges in recent years. With the EBRD and NLB now aligned, the likelihood of a successful takeover increases, though the final decision will depend on the actions of remaining shareholders. The next few days will be critical in shaping the fate of the Slovenian banking sector.