Erste Bank and the Slovak National Property Fund yesterday signed a share purchase agreement regarding the state's 10% stake in Slovenska sporitelna, Erste's 70% Slovak subsidiary. Erste paid a total purchase price of EUR 72m. The bank's shares will be transferred to Erste on Tuesday, April 20, 2004. Both the transaction and the purchase price had already been announced. Source: Erste Bank.
Note that Erste holds a call option to acquire the remaining 20% stake in SLSP from EBRD as of January 1, 2005, and is largely expected to exercise this option.
Jan Hájek, Patria Finance