Penta takes over the Slovak Dexia
Penta Investments, a Central European investment group, has become the owner of a 88.71 percent stake in the Dexia banka Slovensko. As of 1 April 2011 Jan Rollo takes up the position as Chief Executive Officer and Chairman of the Board of Directors of Dexia banka Slovensko. He was appointed by the Supervisory Board of the Bank and approved by the National Bank of Slovakia. The Antimonopoly Office SR and the National Bank of Slovakia consented to the transaction.
"Dexia banka Slovensko will continue in cooperation with the municipal sector, for which it represents a solid long-term partner. We seek to strengthen our bank's operations in the retail segment, where we see room for growth," Iain Child, Penta investment group partner, said.
Penta as a new majority shareholder of Dexia banka Slovensko will fulfill its obligation stipulated by law and submit to minority shareholders a mandatory takeover offer. This announcement will appear on 1 April 2011 in the SME daily. The offer itself will be published within ten working days, as it is a subject to approval by the National Bank of Slovakia. Validity of the mandatory offer lasts 60 days. The minority shareholders will be informed about its situation in the press and that during the entire period of the validity of the mandatory offer.
The Agreement on the acquisition of the majority stake of Dexia banka Slovensko was signed between the invesment group Penta and Dexia Kommunalkredit Bank, daughter company of Dexia SA, in November 2010.
About Penta Investments
Penta is a Central European investment group established in 1994. It operates in the private equity and real estate sectors. In private equity, it manages an evergreen fund of its five partners, the company's only shareholders. Its portfolio companies provide jobs to more than 25,000 people and reported revenues of EUR 2.2 billion in 2009. Penta invests into retail, health care, aerospace industry, mechanical engineering, utilities, entertainment, telco and private banking projects. The real estate section was started in 2005 and is currently implementing 11 development projects. Penta is active in more than 10 European countries and has offices in Prague, Bratislava, Warsaw, Limassol and Amsterdam.
Source: Penta Investments press release