(E) Italy's UniCredit selling Croatian bank HVB Splitska
Croatia: Prospective Buyers Start Due Diligence Process on HVB Splitska
Italians selling Croatian bank HVB Splitska
14:26 - 18 January 2006 - Prospective buyers plan to start due diligence in Croatia's fifth largest bank HVB Splitska Banka next month. Italy's UniCredit, the owner of Splitska, contemplates of selling the bank in order to comply with the requirements imposed by the Croatian central bank thus avoiding a dominant position on the Croatian market. UniCredit, which owns Croatia's largest bank Zagrebacka as well, became Splitska's owner after a takeover of Germany's HVB. Unicredit is in the process of gathering names of potential buyers. Some potential bidders could be Belgian banking group KBC, French Societe Generale, Polish PKO Bank, National Bank of Greece, Hungary's MKB and Austrian BAWAG.