NLB Plans to Sell Stake in Food Retailer

Nova Ljubljanska Banka (NLB) in Slovenia is in talks to sell its entire 10.75% stake in the country’s food retailer Mercator to private equity fund Mid Europa Partners.

NLB said it needed $531.7m of fresh capital to meet tougher EU requirements.

The market capitalisation of Mercator, which operates stores in Slovenia, Serbia, Croatia, Bosnia, Montenegro, Bulgaria and Albania amounts to €552m.

NLB is 30.6%-owned by Belgian banking and insurance group KBC, according to Reuters.