EUR 80 million deposit for 100-percent stake in AIK Banka?

In order to become the sole owner of AIK Banka that he now co-owns, Miodrag Kostic will have to pay a deposit of EUR 80 million within the next 15 days.

The crucial moment took place Friday, when Kostic's Sunoko bought 15 percent of AIK Banka shares from several offshore companies and other investors for EUR 19 million.

Kostic thus acquired a 38-percent stake in this local bank and one day later made a takeover bid.

- Kostic was paying every share RSD 1,635 on Friday. He offered a fixed price in a bid to take over the entire bank. The acquisition of remaining 62 percent of shares will cost him minimum RSD 9.2 billion or somewhat less than EUR 80 million - Miroslav Radakovic, chief broker at Sinteza Invest Group, explains.

He adds that it will be interesting to see if Greek ATE Bank which currently holds a 20-percent stake in AIK Banka will sell it to Kostic. AIK Banka is valued at EUR 128 million on the Belgrade Stock Exchange.