On reassessing its investment in Nova Ljubljanska banka (NLB) in 2006, KBC decided to position itself as a purely financial investor in the Slovene bank. Consequently, KBC’s entire 34% stake became available on the market. KBC has now set the terms and conditions for a comprehensive structured process that will govern any future sale of KBC’s 34% stake in NLB to a third party and the divestment of KBC’s 50% stake in NLB Vita. KBC and the Slovene Government aim to organise an orderly, efficient and transparent tender process led by KBC, so that the most suitable new partner(s) for NLB can be selected in mutual consent between KBC and the Republic of Slovenia. The tender process started on 30 April with a resolution of the supervisory board of NLB supporting the sales process.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.