Penta purchases majority stake in Dexia Banka Slovensko

The Franco-Belgian bank Dexia announced on Thursday, November 11, that it has reached an agreement with Slovakia-based investment group Penta concerning the sale of an 88.71-percent stake in its subsidiary Dexia Banka Slovensko, the TASR newswire wrote.

The Franco-Belgian bank Dexia announced on Thursday, November 11, that it has reached an agreement with Slovakia-based investment group Penta concerning the sale of an 88.71-percent stake in its subsidiary Dexia Banka Slovensko, the TASR newswire wrote.

According to Dexia, the deal forms part of an agreement with the European Commission. The EU's executive branch required that the bank, in exchange for a €6.4-billion emergency package that it received from Belgium, France and Luxembourg, should dispose of its Slovak subsidiary by October 31, 2012. Dexia Banka Slovensko CEO Stefaan Depaepe said: "Clients will continue to benefit fully from top-quality services."

According to Dexia, the share-purchase agreement was signed in line with standard terms and conditions and is now subject to approval from the National Bank of Slovakia (NBS) and the Anti-Monopoly Office (PMU). The transaction is expected to be completed in the first quarter of 2011. According to Penta Investments, the purchase sum will not be disclosed. Partner at Penta Investments Jozef Oravkin said that the group intends to preserve Dexia's long-term partnership with local authorities, which will remain one of the main pillars of the bank.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

News digest: Who is ready for a vaccine in Slovakia

Vlhová won again. Boris Kollár is at home and will meet coalition partners to discuss GP vote. Justice Minister shows a new map.

Illustrative stock photo

Roundup: Bratislava’s Old Market Hall hosts Christmas markets

If you have not watched the 'Dracula' miniseries, filmed in Slovakia last year, it is about time.

Bratislava’s Old Market Hall will provide visitors with Christmas vibes in the coming four weeks. Each week, from Wednesday to Saturday, people can do a little bit of Christmas shopping at the venue.

From COVID-19 miracle to apparent resignation to death and dying

The natural reflex of all failed politicians – and their uncritical fan clubs – is to point to cultural or geographical differences between “us” and “them”.

The COVID-19 ward in the University Hospital Martin