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Banca Intesa new owner of Delta Banka

Banca Intesa novi vlasnik Delta Banke

Banca Intesa has completed the acquisition of 90% plus one share of the voting share capital of Delta Banka by way of the sellers’ acceptance of the takeover bid as launched on 20th July 2005 for a consideration of €333 million, following the receipt of all required regulatory approvals and the satisfaction of all conditions in the relevant Share Purchase Agreement.The exercise, over the course of the next four years, of a call option by Banca Intesa and a put option by the sellers on the remaining 10% minus one share stake is regulated by an attendant shareholders agreement. Delta Bnka is the second largest bank in Serbia and Montenegro in terms of total assets. As at December 2004, it registered €691 million of assets, €553 million of customer deposits, €332 million of customer loans and €114 million of shareholders’ equity. For the twelve months ended 31st December 2004, its net profit amounted to €22 million; its nationwide network was made up of 144 branches and 16 outlets serving over 400,000 clients.As a result of the acquisition, Banca Intesa strengthens its position in Central-Eastern Europe in accordance with its selective acquisition strategy confirmed in the 2005-2007 Business Plan.