OTP: Takeover of Croatian Banco Popolare Fixed

Business › n.a. ♦ Published: January 31, 2014; 15:56 ♦ (Vindobona)

On Friday Hungarian OTP signed a deal to take over Croatian affiliate of Italian Banco Popolare.

OTP: Takeover of Croatian Banco Popolare Fixed / Picture: © OTP Bank

The selling price comes at HRK 107m (US-$ 18.84m). OTP, biggest lender in CEE, announced this step was taken to expand its existing business in the newest member of the European Union. "After the transaction, OTP continues to seek regional acquisition opportunities that could contribute to the strengthening of value creation for shareholders," OTP announced.

On Friday the deal…

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