Steiermärkische Bank und Sparkassen AG completed the acquisition of 74.53% stake in Ohridska banka AD from Société Générale Société anonyme.
The completion of the transaction is conditional upon successful closing of the mandatory takeover by Steiermärkische Sparkasse. The completion of the tender offer is, in turn, is subject to the approval of the European Central Bank as well as the North Macedonian National Bank, capital market authorities and competition authorities. After receiving the approvals of the European Central Bank, the North Macedonian National Bank and the Capital market and competition authorities, on September 23, 2019, the decision of the Securities and Exchange Commission was received. On September 24, 2019 the takeover Bid Period started and is expected to end on the October 21, 2019. Société Générale Société anonyme expects sale of Ohridska Banka Societe Generale and Societe Generale Montenegro have a positive impact on Société Générale's CET1 ratio of around 2 basis points and to reduce the risk weighted assets by around 1.1 billion (MKD 67.8 billion). Lazard-Natixis acted as financial advisor to Société Générale. Oliver Werner, Sixtus Ferdinand Kraus, Simon Cook, Mario Maier, Peter Huber, Marija Filipovska, Ana Bozarova, Elena Miceva Stojchevska, Dieter Zandler and Rako Radovanovic of CMS acted as legal advisors for Steiermärkische Bank. Alexandre de Verdun of Jones Day acted as legal advisor to Societe Generale.KPMG acted as accountant to Steiermärkische Bank und Sparkassen AG in the transaction.
Steiermärkische Bank und Sparkassen AG completed the acquisition of 74.53% stake in Ohridska banka AD from Société Générale Société anonyme (ENXTPA:GLE) on October 28, 2019.