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RBI Sells Slovenian Subsidiary to US Private Equity Firm Apollo

Published: December 10, 2015; 11:30 · (FriedlNews)

Raiffeisen Bank International AG (RBI) has reached an agreement to sell its Slovenian bank, Raiffeisen Banka d.d., to Biser Bidco, which is managed by an affiliate of Apollo Global Management, LLC. The purchase price has not been disclosed. The expected deconsolidation effect on RBI’s consolidated result will amount to minus EUR 49 million.

Apollo Headquarters in New York City / Picture: © Wikipedia / Iav~commonswiki

As one of the announced steps in the implementation of its strategic measures, Raiffeisen Bank International AG (RBI) has reached an agreement to sell its Slovenian bank, Raiffeisen Banka d.d., to Biser Bidco, which is managed by an affiliate of Apollo Global Management, LLC.

It was agreed that the purchase price would be kept confidential.

Closing is scheduled for the first half of 2016 and is subject to regulatory approval.

The expected deconsolidation effect on RBI’s consolidated result will amount to minus EUR 49 million.

This will be booked in the fourth quarter of 2015 and forms a part of the restructuring costs already communicated in RBI’s official outlook.

With the closing of the transaction, risk-weighted assets are expected to be reduced by approx. EUR 270 million.

The Slovenian Raiffeisen Leasing d.o.o. (RWA 30.09.2015: approx. EUR 100 million) is not included in the transaction.

The transaction will have a minimal negative effect on RBI’s CET1 ratio.