The contest for control of Addiko Bank has entered a decisive phase, with Slovenian lender NLB Group launching a counter-offer that exceeds the current bid from Raiffeisen Bank International (RBI) by 40%.
The move signals a determined effort by NLB to secure the Southeast European banking network, which originated from the former Hypo Alpe Adria, despite RBI’s earlier positioning in the deal.
NLB Group is attempting to outmaneuver its Austrian rival not only through a higher price but also by proposing a reduction in the mandatory takeover threshold.
This strategic adjustment is designed to streamline the acquisition process for the Vienna-listed lender, potentially allowing NLB to consolidate control with a lower shareholding percentage than previously required under standard regulations.
The combination of a premium offer and regulatory flexibility aims to make the proposal more attractive to Addiko’s shareholders.
The acquisition battle unfolds against a backdrop of ongoing legal and financial challenges for Addiko Bank.