Meinl to start diligence at Banka Slovakia

THE AUSTRIAN Meinl Bank is scheduled to begin due diligence at state-owned Banka Slovakia on April 8. According to Meinl President Alena Longaurová, classified information will be available for Meinl officials for one week.

Meinl Bank is the only bidder for Banka Slovakia yet to be allowed to conduct a detailed audit by the National Bank of Slovakia (NBS).

In order to create a competitive environment, the FNM privatisation agency extended the tender for a 60.07 per cent share in Banka Slovakia last month. Additional investors have until April 25 to declare interest.

Besides the FNM, which holds the majority share, Banka Slovakia shareholders include insurance provider Slovenská poisťovňa (26.4 per cent), retail bank Slovenská Sporiteľňa (6.3 per cent), and the city council of Banská Bystrica (6.9 per cent).

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