Slovenian lender NLB Group has significantly strengthened its position in the contest for Addiko Bank, securing a stake of nearly 30% after US asset manager Wellington Management added its 5.7% holding to the Slovenian bank's offer.
The move marks a decisive escalation in the takeover battle, which has seen NLB launch a counter-bid exceeding the current proposal from Raiffeisen Bank International (RBI) by 40%.
The consolidation of Wellington's shares brings NLB closer to the mandatory takeover threshold, a key milestone in its strategy to acquire the Vienna-listed lender.
NLB has previously indicated plans to seek a reduction in the mandatory takeover threshold to streamline the acquisition process, a regulatory hurdle that has complicated previous attempts to consolidate control of Addiko.
The intensifying battle for Addiko Bank reflects broader strategic shifts in Central and Eastern European banking, where larger regional players are seeking to consolidate market share.
NLB's aggressive posture, backed by significant institutional support, signals a high-stakes contest that could reshape the competitive landscape for banks operating in the Balkans and Central Europe.