Sberbank Europe has agreed to sell its 99.5% stake in Sberbank Slovensko to Central European investment group Penta Investments for an undisclosed sum.
As of the third quarter of 2015, Sberbank Slovensko had a balance sheet of EUR1.86bn and employed 665 people.
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"The decision to sell Sberbank Slovensko is consistent with the strategic review of the markets in which Sberbank Europe operates," Sberbank said in a statement.
The deal is subject to approval by the Antimonopoly Office of the Slovak Republic and the European Central Bank.
Vienna-based Sberbank Europe is a subsidiary of Sberbank Russia. The unit currently operates in 11 Central and Eastern Europe markets including Austria, Bosnia and Herzegovina, Croatia, Czech Republic, Hungary, Slovakia, Slovenia, Serbia, Ukraine and Germany.
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