US company acquires Montenegro's Nova banka

US-based Adriatic Capital LLC has finalised an acquisition of Montenegro's Nova banka after a 7.1 mln euro transaction of 299,511,761 shares owned by Azmont Investments was registered on the Montenegroberza stock exchange Wednesday, Pobjeda reports.

16 Jan 2020 18:53

PODGORICA - US-based Adriatic Capital LLC has finalised an acquisition of Montenegro's Nova banka after a 7.1 mln euro transaction of 299,511,761 shares owned by Azmont Investments was registered on the Montenegroberza stock exchange Wednesday, Pobjeda reports.

While a report from the bourse reveals no details of the transaction, the daily recalled that Azerbaijan-based Azmont Investments, as the sole owner of the bank, had last year agreed to sell Nova banka to Adriatic Capital LLC at 0.0237 euros per share.

Nova banka posted 1.18 mln euro losses in Q3 2019, the paper said.

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