Milano, 21 July 2005
On 20th July 2005, Banca Intesa - in the framework of the share purchase agreement signed in February 2005, and as per amendment thereof as of March 2005, for acquiring control of Delta Banka, Belgrade - launched a takeover bid for the acquisition of 90% plus one share of the voting share capital of Delta Banka for a consideration of € 333 million (corresponding to the € 370 million valuation for 100% of the share capital fixed in the aforementioned share purchase agreement), having already received the approval from the regulatory authorities in Serbia and Italy. As required by local stock exchange regulations, the bid shall remain open for 21 calendar days. The acquisition is expected to close around the middle of August 2005.
Delta Banka is the second largest bank in Serbia and Montenegro in terms of total assets. As at December 2004, it registered € 691 million of assets, € 553 million of customer deposits, € 332 million of customer loans and € 114 million of shareholders’ equity. For the twelve months ended 31st December 2004, its net profit amounted to € 22 million. Its nationwide network of 144 branches and 16 outlets serves over 400,000 clients.
Last updated 21 July 2005 at 16:50