SLOVAKIA’s Anti-Monopoly Office (PMÚ) approved Penta investment group’s purchase of Dexia Banka Slovensko effective February 2.
“The office came to a conclusion that the concentration in question does not either create or strengthen a dominant position of the business entity Penta, the result of which might have been considerable obstacles to effective market competition in the relevant market,” Tibor Vrzgula of PMÚ wrote in office’s press release.
Penta investment group bought 88.71 percent of the shares of Dexia Banka Slovakia from the Franco-Belgian Dexia Group at the end of 2010. The transaction was made possible as part of an agreement that Dexia Group reached with the European Commission in February 2010 that required the banking group to sell its Slovak branch before the end of October 2012.
The purchase contract had been signed under standard conditions, the SITA newswire wrote, and will be approved by the National Bank of Slovakia as well.
15. Feb 2011 at 0:00 | Compiled by Spectator staff