Spectator on facebook

Spectator on facebook

Penta becomes majority owner of Sberbank Slovensko

THE PENTA Investments group on December 17 signed a contract with Sberbank Europe AG to purchase a 99.5-percent stake in Sberbank Slovensko, the Slovak bank announced on the same day.

(Source: Sme)

However, the transaction still needs to be given the green light by the Anti-monopoly Office (PMU) and the European Central Bank.

“The decision to sell Sberbank Slovensko is in line with a strategic reassessment of markets featuring Sberbank Europe,” stated Sberbank Slovensko in a press release, as quoted by TASR, adding that the price of the stake is confidential.

Binder Groesswang served as the legal advisor for Sberbank Europe AG in this transaction.

Penta is already present on the Slovak banking market via its own Privatbanka (since 2007), which focuses on providing private banking services, and via a majority stake in Prima Banka (since 2011), formerly called Dexia Banka.

Sberbank Slovensko has 665 employees and posted a balance of €1.86 billion at the end of 3Q15.

Disclaimer: Penta financial group has a 45-percent share in Petit Press, the co-owner of The Slovak Spectator.

Top stories

Kiska will appoint new government on Thursday

The president reportedly asked for the dismissal of current Police Corps president; the interior minister nominee is ready to act.

Peter Pellegrini (l) and President Andrej Kiska (r)

Laššáková talks about "money from overseas" in the third sector

Proposed culture minister first said Fico was right about Soros, then apologised for her statement.

Culture-ministry appointee, Ľubica Laššáková

Tomáš Drucker may become new interior minister

Following the president's refusal to appoint the new government, designated PM Peter Pellegrini will submit a new list of candidates on March 21.

Health Minister Tomáš Drucker

Pellegrini – Smer’s crown prince or Fico’s puppet?

Peter Pellegrini will be appointed prime minister. These are the 10 notable moments in his political career.

Peter Pellegrini