Raiffeisen Bank International surpasses the 55% threshold in its takeover bid for Addiko Bank, valuing the deal at €517m.
Raiffeisen Bank International (RBI) has secured 56.16% of Addiko Bank shares, exceeding the 55% minimum threshold required for control. The acceptances cover 10.83 million shares, finalized at the close of RBI’s voluntary takeover offer period.
RBI launched its bid in April, competing with Nova Ljubljanska Banka (NLB), which initially offered €29 per share before raising it to €37.00. NLB’s bid failed, attracting only 31.2% of shares. RBI’s offer stands at €26.50 per share, with a remaining tender window until 3 November.
The transaction values Addiko at €517m ($596m) and remains subject to regulatory approval. Addiko, a Balkan-focused lender, was formed from the restructuring of Hypo Alpe Adria in 2009.