Hungary’s OTP Bank offers $340.6 million for Slovenia’s Abanka

03/18/2019 12:48:00 PM (GMT)

Hungarian financial services company OTP Bank has offered about 300 million euros ($340.6 million) for Slovenian rival Abanka.

The takeover deal is expected to take place by the middle of 2019, subject to European Commission approval.

Moreso, OTP also announced its interests in buying SKB bank, the Slovenian unit of French bank Societe Generale.

Annually, OTP Bank noted it generates about $2.4 billion in revenue.

OTP Bank

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