NLB Challenges Raiffeisen in Battle for Balkans Bank Addiko

Nova Ljubljanska banka d.d. said it plans to announce a purchase offer for shares in Balkans consumer lending specialist Addiko Bank AG, countering a similar proposal by Raiffeisen Bank International AG.

Slovenia’s NLB is offering €29 per share for a significant majority in Addiko, it said in a statement Thursday, valuing the bank at €566 million ($663 million). That compares with €23.05 offered by Raiffeisen on Wednesday and a €26 closing price before that first bid was announced.