Slovenian bank Nova Ljubljanska Bank (NLB) has entered negotiations to sell its 10.75% stake in retailer Mercator to equity fund Mid Europa Partners.

The bank announced yesterday (21 September) that Mid Europa Partners won a tender that NLB managed with advisory firm Arkas at the beginning of this year.

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The exclusivity contract does not bind NLB to sell its stake, it added.

Eight local banks planned to sell their share in the company earlier this year, but a number of banks quit the sale process, saying bids were too low.

The supermarket group booked an increase in first-half profits at the end of August, despite “highly challenging” economic conditions.

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