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.
Go deeper with GlobalData
"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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
