Decision on sale of NLB Bank soon – Awaiting approval of gradual privatization by EU

The European Commission is to approve the request of the Slovenian government to have the NLB Bank privatized gradually early next week, most probably on Tuesday, May 9.

If Brussels greenlights the amended obligations, i.e. the sale of 50% of NLB by the end of 2017 and the remaining 25% next year, the Slovenian State Holding (SDH) will have to announce the so-called intention to float, i.e. the intention to put shares up for sale, as soon as next week and no later than Friday, May 12. The document defining the price range, the deadlines and other items is then to be published.

Unofficially, the document has been prepared and is waiting for the intention to float to be published. The management of SDH then needs to approve this with consent by the Supervisory Board, as well as the leadership and members of the Supervisory Board of NLB.

Two international and two local bid collectors will examine the interest of investors in the purchase of NLB within the defined price range and form the final price in financial centers, most probably in London, New York and Frankfurt.

As is already known, the state wants to sell NLB at its book value and earn around EUR 1 billion.

Nova Ljubljanska banka d.d. Ljubljana

EUROPEAN COMMISSION Bruxelles

Vlada Republike Slovenije

NLB Bank

European Commission

Government of Slovenia

sale of NLB Bank

privatization of NLB Bank

Slovenian State Holding

SDH

intention to float