Raiffeisen Reaches Minimum Threshold for Addiko Bank Acquisition

Raiffeisen Bank International AG (RBI) has achieved a crucial step in its €517 million bid to acquire Addiko Bank AG, as shareholders representing over 55% of Addiko's shares tendered their holdings. This significant participation rate surpasses the minimum threshold required for the offer to proceed, as outlined by RBI.

The tender offer, which commenced on April 24, 2024, and was set to expire on June 5, 2024, aimed to acquire all outstanding shares of Addiko Bank. RBI had previously announced its intention to acquire Addiko Bank in a deal valued at approximately €517 million. The successful tender marks a pivotal moment, indicating substantial shareholder support for the proposed transaction.

With the minimum acceptance condition met, RBI is now expected to proceed with the next stages of the acquisition process. The completion of the deal is subject to customary closing conditions, including obtaining necessary regulatory approvals. The acquisition, if finalized, would represent a significant expansion for Raiffeisen Bank International in the Balkan region, where Addiko Bank has a notable presence.

Addiko Bank, headquartered in Vienna, operates primarily in Southeast Europe, with a focus on markets such as Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and Montenegro. The integration of Addiko Bank's operations into RBI's existing network is anticipated to create synergies and enhance the combined entity's market position. The final outcome of the offer will be determined once the full results of the tender period are tallied and announced.