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Completed Banks Capital Sale ProceduresJubanka a.d. Beograd
· Public announcement for submission of Expression of Interest was published on May 28, 2004
· Subject of sale was 88.64% of shareholders capital of Jubanka
· Three potential bidders have submitted their Expression of Interest in order to participate in the tender process and have performed financial and legal due diligence of the bank.
· First ranked bidder: Alpha Bank from Greece
· Share Purchase Agreement (SPA) for sale of shares of Jubanka was signed with Alpha Bank from Greece on January 26, 2005
· Purchase price for the shares that were subject to sale was EUR 152 million
· The transaction was closed on February 3, 2005
· Financial Advisor: BNP Paribas
Novosadska banka a.d. Novi Sad
· Tender was announced on September 24, 2004
· Subject of sale was 82.98% of the shareholders capital Novosadska banka
· Six Expressions of Interest of the potential buyers were received, out of which three have performed legal and financial due diligence of the bank
· First ranked bidder: Erste Bank from Austria
· Signing of the SPA with Erste Bank took place on July 15, 2005
· Purchase price for the shares that were subject to sale was EUR 73 million
· Closing of transaction and transfer of shares was finalized on August 9, 2005
· Financial Advisor: BNP Paribas
Continental banka a.d. Novi Sad
· Tender for the sale of state shares in Continental banka was announced on September 24, 2004
· Subject of sale was 98.43% of the shareholders capital of Continental banka
· Four potential buyers have submitted their Expression on Interest. Two bidders have performed legal and financial due diligence of the bank.
· First ranked bidder: Nova Ljubljanska Banka
· Signing of the SPA with Nova Ljubljanska Banka took place on July 6, 2005
· Purchase price for the shares that were subject to sale was EUR 49.5 million
· The deal was closed and the shares were transferred to the new owner on July 31, 2005
· Financial Advisor: BNP Paribas
Niška banka a.d. Niš
· Tender was announced on January 31, 2005
· Subject of sale was 89.4% of shareholders capital of Niška banka
· Four Expressions of Interest were received
· First ranked bidder: OTP, Hungary
· Signing of the SPA with OTP took place on December 23, 2005
· Purchase price for the shares that were subject to sale was EUR 14.2 million
· The closing of the transaction took place on March 7, 2006
· OTP was committed to invest additional EUR 20 million in Niška banka
· Financial Advisor: ING
Vojvođanska banka a.d. Novi Sad
· Tender was announced on September 30, 2005
· Subject of sale was 99.44% of shareholders capital of Vojvođanska banka
· Eleven strategic investors have submitted their Expression of Interest to participate in the process
· First ranked bidder: National Bank of Greece (NBG)
· Negotiations were successfully completed and the signing of the SPA took place on September 12, 2006
· Purchase price was EUR 385 million. At the date of closing the buyer paid EUR 360 million to the Republic of Serbia and EUR 25 million were deposited in an escrow account for 18 months, whose release to the Republic of Serbia depended on the level of recoveries from the bank’s fully provided non-performing loan portfolio. Out of this amount app EUR 9 million was paid to the account of the Republic of Serbia
· The closing of the transaction took place on December 11, 2006
· In addition, NBG also provided a seven year loan of EUR 25 million to the Development Fund of Serbia at market rates and has committed to additional capital investments of EUR 40 million over the next three years following the signing of the SPA
· Financial Advisor: Nomura International plc
Panonska banka a.d. Novi Sad
· Tender was announced on October 28, 2005
· Subject of sale was 87.39% of the shareholders capital of Panonska banka
· Ten potential bidders have shown the interest to participate in the process.
· First ranked bidder: Sanpaolo IMI, Italy
· SPA was signed with Sanpaolo IMI on July 28, 2006
· Purchase price for the shares that were subject to sale was EUR 122 million
· The transaction was successfully completed on November 24, 2006
· Sanpaolo IMI committed to additional investment in Panonska banka in the amount of EUR 11 million in the next three years following the signing of the SPA
· Financial Advisor: ING
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