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BUSINESS BRIEFS

Erste gains 100 percent of SLSP

AUSTRIAN Erste Bank Group acquired a further 20 percent stake in Slovenská sporiteľňa (SLSP) January 10, the country's largest retail bank, paying €122.285 million (Sk4.7 billion) and in the process becoming its sole owner.

The purchase price of the stake, which Erste bought from the European Bank for Reconstruction and Development, is preliminary and subject to the approval of shareholders, according to the SITA news agency.

Erste has so far paid a total of €522 million for SLSP since it began privatization in 2001.

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