Greek ATEbank opens tender to sell its stake in Serbia's AIK Banka.

By bne IntelliNews May 8, 2012
Greek state-controlled ATEbank has opened a tender to sell its 20.3% stake in Serbia's AIK Banka, news service eKapija reported. ATEbank is inviting investors to show their interest in acquiring its complete holdings in one of Serbia's top lenders. AIK Banka's 5.7% market share rank it as the seventh biggest bank in the country, the report quoted the text of the tender invitation as saying. ATEbank announced in February it had picked the Investment Bank of Greece and the European Privatisation and Investment Corporation (EPIC) to consult it on the sale. ATEbank is the largest single shareholder in AIK Banka. UniCredit Bank Austria comes next, with a 6.07% stake, while the remainder belongs to smaller shareholders. AIK Banka is among the most traded shares on the Belgrade bourse and is the company with the biggest weight in the bourse's 15-member blue-chip index. Its stock has lost 2.9% since the start of 2012 until the beginning of May, reaching RSD 1,600 (EUR 14.3). ATEbank has said it plans to sell the minority stake in AIK Banka and the majority stake it holds in its Romanian unit until the end of 2012, eKapija has reported earlier. The Greek bank bought its stake in AIK Banka at the end of 2006 at RSD 5,200 per share. AIK Banka's pre-tax profit nearly halved to RSD 3.3bn last year from RSD 6.2bn in 2010.

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