NLB Group’s attempt to acquire Addiko Bank has failed after shareholders rejected the Slovenian lender’s bid in favor of the existing offer from Raiffeisen Bank International (RBI).
Shareholders holding 31.22% of Addiko’s shares accepted the RBI proposal, effectively ending NLB’s campaign to take control of the regional bank.
The outcome marks a decisive shift in the prolonged contest for Addiko, which had intensified when NLB launched a counter-offer exceeding RBI’s initial bid by 40%.
The outcome marks a decisive shift in the prolonged contest for Addiko, which had intensified when NLB launched a counter-offer exceeding RBI’s initial bid by 40%.
Despite the significant premium, the higher price was insufficient to sway the key block of shareholders who had already committed to the Austrian lender.
The rejection leaves RBI in a stronger position to finalize its acquisition of Addiko, a key player in the Balkan banking sector.
For NLB, the loss represents a setback in its regional expansion strategy, particularly in markets where it competes directly with other European banks.