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Thursday, May 23, 2024
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Applications submitted by Alta Pay Group and Agri Europe Cyprus Limited for ownership in Addiko Bank: Central Bank review pending

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Alta Pay Group and Agri Europe Cyprus Limited have submitted applications to the Central Bank of Montenegro (CBCG) to acquire ownership stakes in Addiko Bank, based in Podgorica, according to reports from Vijesti.

This information was officially confirmed by the Central Bank of Montenegro (CBCG) to the local newspaper. Alta Pay Group, owned by Davor Macura, and Agri Europe Cyprus Limited, owned by Miodrag Kostić, are part of the entry of these two businessmen’s firms into the ownership structure of the Austrian Addiko Bank AG, which operates across several countries in the region.

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Nikola Bašanović, Director of the Licensing, Approvals, Measures, and Compliance Assessment Directorate in the Banking Supervision Sector, informed Vijesti that there are two ongoing decision-making processes at the CBCG regarding requests for acquiring indirect qualifying stakes in Addiko Bank Podgorica’s share capital, as a subsidiary of Addiko AG. The first request, submitted by Alta Pay Group Belgrade, proposes a 29.59% participation in the bank’s share capital, while the second request, from Agri Europe Cyprus Limited, seeks to acquire a 26.991% stake.

Bašanović elaborated that the CBCG is actively managing these processes and liaising with representatives of the two entities to ensure all necessary information and data are provided for decision-making.

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The decision-making period is set at 60 working days from the submission of a complete application, as clarified by Bašanović.

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