Raiffeisen Bank International ($RBI (+1.24%)) has offered Addiko shareholders a cash price of EUR 23.05 per Addiko share (cum dividend 2025). The offer price corresponds to the volume-weighted average share price of the last six months, plus a premium. The offer is subject to conditions precedent, including a minimum acceptance threshold of more than 75%. In addition, RBI intends to enter into an agreement with Alta Group d.o.o. (Serbia), a shareholder of Addiko, which provides, inter alia, for the planned sale (the "Carve-Out") of various subsidiary banks by Addiko Bank AG subject to the successful completion of the Offer. The sale price of the carve-out will at least correspond to the market value of the subsidiaries to be sold.
Shortly afterwards, the Slovenian bank Nova Ljubljanska banka ($NLB (+2.17%)) also announced a takeover bid. The offer price is expected to be EUR 29 per Addiko share. The bank had failed to meet the self-imposed minimum acceptance threshold of 75% with a significantly lower offer in 2024. Further conditions for the current offer are not yet known. In particular, it is questionable whether the threshold will be adhered to repeatedly.
