Miodrag Kostic buying Alpha Bank?

Miodrag Kostic might become the new owner of Alpha Bank Serbia.

As Novosti writes, the General Meeting of AIK Bank, owned by Kostic, should approve the investment of AIK Bank in the purchase of 100% of shares of Alpha Bank Serbia at the session scheduled for September 2 of the current year.

AIK would thus become the fourth bank in Serbia, with a 8.4% market share, and the Serbian businessman would also take over 76 offices of Alpha Bank in Serbia.

Alpha Bank entered the Serbian market in 2002. By privatizing Jubanka A.D. Beograd in 2005, Alpha Bank, as they consider in this financial institution, reached the upper echelon of the banking elite in Serbia. The agreement worth EUR 152 million has certainly placed this privatization among the largest realized investments in Serbia.

MK Group, owned by Miodrag Kostic, acquired a significant part of the ownership of AIK Bank in early 2014. What followed was the consolidation of ownership through public bids for the takeover. Finally, last month, the decision on the compulsory acquisition was announced, when the companies within MK Group exceeded a 90% share of the ownership of AIK Bank.

As well, AIK Bank increased its interest in mid-July and became the second largest shareholder in the Slovenian Gorenjska Banka. According to the Slovenian media, after the European Central Bank approved the increase of the share to 20%, AIK Bank continued buying shares in the Slovenian bank and increased its share from 13.86% to 15.18%.

MK Group d.o.o. Beograd

JUBANKA A.D. BEOGRAD

AIK Banka a.d. Beograd

GORENJSKA BANKA d.d. Kranj

Miodrag Kostic

MK Group

Alpha Bank

AIK Bank

Gorenjska Banka