U.S. fund Apollo interested in Raiffeisen’s Slovenian bank, says report: Reuters

(Reuters) US investment fund Apollo Global Management is interested in buying Raiffeisen‘s bank in Slovenia, daily newspaper Finance reported on Wednesday.

Apollo, which bought 80 percent of Slovenia’s second largest bank Nova KBM (NKBM) last month, was not immediately available to comment. The European Bank for Reconstruction and Development bought the other 20 percent of NKBM.

Austria’s Raiffeisen Bank International said earlier this year that it plans to sell operations in Slovenia and Poland and cut back in Russia to shrink its balance sheet and improve its core capital ratio.

Raiffeisen said it could not comment on details of the sale, adding that this “is still a preferred option”, with the other option being to liquidate its Slovenian bank.
“There are several new parties involved in buying the bank,” said Raiffeisen’s head of communication Ingrid Krenn-Ditz.

According to Finance newspaper, Raiffeisen’s Slovenian bank would cost about 60 million euros ($66 million).