21.12.2015, 14:35
Sberbank Signed Contract about Sale of Slovak Subsidiary
OREANDA-NEWS. Sberbank Europe AG, a subsidiary of the Sberbank Group, has today signed an agreement for the sale of its 99.5% stake in Sberbank Slovensko, a.s to Penta Investments.
Confidentiality has been agreed concerning the purchase price. The closing of the transaction is subject to customary approvals of the Antimonopoly Office of the Slovak Republic and the European Central Bank.
The decision to sell Sberbank Slovensko is consistent with the strategic review of the markets in which Sberbank Europe operates.
Binder Groesswang acted as legal counsel to Sberbank Europe AG. Sberbank Slovensko 665 employees, a balance sheet total of EUR 1.86 billion as of Q3 2015.
Penta is a Central European investment group established in 1994. It owns two other Slovak banks - Primabanka Slovensko and Privatbanka. It operates mainly in healthcare, financial services, manufacturing, retail and real estate development. The Group manages an evergreen fund sustained by its partners, the company's only shareholders. Its portfolio companies provide jobs to more than 35,000 people and reported assets of EUR 6.7 billion in 2014. Penta operates in more than 10 European countries and has offices in Prague, Bratislava, Warsaw and Munich.
Confidentiality has been agreed concerning the purchase price. The closing of the transaction is subject to customary approvals of the Antimonopoly Office of the Slovak Republic and the European Central Bank.
The decision to sell Sberbank Slovensko is consistent with the strategic review of the markets in which Sberbank Europe operates.
Binder Groesswang acted as legal counsel to Sberbank Europe AG. Sberbank Slovensko 665 employees, a balance sheet total of EUR 1.86 billion as of Q3 2015.
Penta is a Central European investment group established in 1994. It owns two other Slovak banks - Primabanka Slovensko and Privatbanka. It operates mainly in healthcare, financial services, manufacturing, retail and real estate development. The Group manages an evergreen fund sustained by its partners, the company's only shareholders. Its portfolio companies provide jobs to more than 35,000 people and reported assets of EUR 6.7 billion in 2014. Penta operates in more than 10 European countries and has offices in Prague, Bratislava, Warsaw and Munich.
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