NLB Announces Plans to Acquire Addiko Bank
In a recent development in the banking sector, Nova Ljubljanska Banka (NLB), a leading banking and financial group in Slovenia, has declared its intention to make a voluntary public cash offer for Addiko Bank. The proposed acquisition is aimed at obtaining control over the Vienna-based bank through the purchase of all issued shares at €29 each on a cum dividend basis. This move from NLB comes shortly after Austria’s Raiffeisen Bank International (RBI) also made a similar takeover offer for Addiko Bank’s shares. However, NLB’s offer significantly outweighs RBI’s proposal, which values each Addiko share at €23.05.
NLB’s Strategic Move for Market Expansion
As part of its strategic expansion plan, NLB aims to secure a majority stake in Addiko Bank through this proposed offer. The bank has said that it currently does not own any Addiko shares. The proposed offer price of €29 per share stands 25.8% above the six-month volume-weighted average share price of €23.05, as of the close of trading on 8 April 2026. Furthermore, the proposed price is also 11.6% above the closing market price on the same date and 25.8% above the price referred to in Raiffeisen’s announcement last week.
Impact of the Acquisition on NLB’s Financial Performance
According to NLB, the acquisition of Addiko Bank is expected to add materially to its earnings from the second full year after completion, while the effect in the first year would be broadly neutral. As of the end of 2025, Addiko had risk-weighted assets of €3.9bn, an amount that NLB has stated fits within its indicated acquisition capacity of around €4bn.
NLB’s Future Plans for Addiko
NLB has also outlined its plans to combine Addiko’s banking subsidiaries with its own businesses in the five markets where both groups operate. For subsidiaries outside the European Union, NLB will assess the costs and benefits of integration and if any such unit is deemed to be sold, the sale price would be no less than fair market value.
Conditions for the Offer
The offer to acquire Addiko Bank is subject to NLB obtaining a significant majority holding, receiving clearance from banking and merger control regulators, and meeting other customary closing conditions.
Word from the CEO
NLB CEO Blaž Brodnjak expressed his belief that Addiko represents a compelling and strategic acquisition opportunity for NLB, given Addiko’s capabilities in the consumer finance and SME segments of the market, as well as due to its digital delivery framework. He added, “We have therefore decided to present Addiko shareholders with, in our opinion, a highly attractive offer, that is, furthermore, also in the interests of other stakeholders, including Addiko’s, customers, management, and employees.”
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