American fund, Apollo, acquired Slovenian Raiffeisen bank's branch office

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Austrian bank Raiffeisen Bank International (RBI) sold its Slovenian branch office Biser Bidco which is managed by the American fund Apollo Global Management, the bank announced on Thursday.

Transaction should end in the first half next year after approved by Slovenian banking regulator, regional media reports.

Apollo is allegedly planning to merge Slovenian Raiffeisen with recently acquired Nova kreditna bank Maribor which would near new bank, when it comes to market shares, to leading Nova ljubljanska banka.

Let us remind, American Apollo and EBRD, a few months ago, bought Nova kreditna banka Maribor for EUR 250 m.

The fund, together with Telekom Slovenia, is competing for takeover of Telekom Srbija.