Apollo and EBRD buy €250m Nova KBM

Apollo funds will hold 80% of Nova, while the EBRD will acquire the remaining stake.

The deal comes as part of a large-scale privatisation of Slovenian government-held assets, which are being privatised through sales managed by Slovenian Sovereign Holding (SSH).

Earlier this month, another private equity deal for an SSH asset fell through, when Cinven withdrew its bid for state-owned telecoms company Slovenije Telekom.

Apollo said it had chosen to partner with the EBRD on the buyout because of the EBRD's knowledge and history of investment in the CEE region.

Company
Founded in 1862, Nova KBM is Slovenia's oldest bank, and the country's second-largest according to SSH. Before the sale to Apollo and the EBRD, the bank was wholly state-owned.

Nova offers both personal banking and financial services such as corporate finance. Headquartered in Ljubljana, the bank employs a staff of 1,700.

People
Apollo senior partner Gernot Lohr worked on the deal for the GP, alongside the managing director of the EBRD's financial institutions division, Nick Tesseyman.
Robert Senica is the president of Nova KBM's management board.

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• Topics
• CEE
• Buyouts
• Financials
• EBRD
• Slovenia
• Apollo Management
• Unq2015July