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07 June 2024
press release

Austria: Schoenherr advises NLB on takeover offer for Addiko

Schoenherr is advising Nova Ljubljanska banka d.d., Ljubljana ("NLB") on its competing voluntary public takeover offer for Addiko Bank AG ("Addiko") as announced on 15 May 2024 (NLB press release) and launched on 07 June 2024. With its full-cash offer, NLB aims to acquire control over Addiko, offering a consideration of EUR 20 per share on a cum dividend basis, which represents an attractive 22.2 % premium on the 6m VWAP. NLB currently holds no shares in Addiko and intends to acquire at least a 75 % shareholding. The offer is subject to regulatory approvals and customary closing conditions. Details on the offer can be found in the offer memorandum available on the websites of NLB, Addiko and the Austrian Takeover Commission.

Nova Ljubljanska banka is the largest operating entity and parent company of NLB Group, which consists of six subsidiary banks and several other companies. The group's strategic focus is on Southeast Europe (SEE).

Addiko Group is a specialised banking group for consumer and small and medium-sized enterprises (SME) with a focus on providing consumer and SME lending and payment services.

The Schoenherr team advising NLB on all legal aspects of the transaction is co-led by Sascha Hödl (partner) and Sascha Schulz (partner) and further consists of Beatrix Schima (attorney at law), as well as of Vid Kobe (partner) and Peter Gorse (partner) for legal matters related to Southeast Europe. Peter Feyl (partner), Matthias Pressler (counsel), and Matej Črnilec (partner) are advising on banking regulatory matters in Austria and Southeast Europe (covering seven SEE jurisdictions in total).