On October 5, the Shareholders Assembly of Ohridska AD Skopje and the Shareholders Assembly of Sparkasse AD Skopje reached a decision to start the integration of the two banks.
The entire assets and liabilities of Ohridska AD Skopje will be transferred in exchange for the shares of Sparkasse AD Skopje, without conducting a liquidation process. The shareholders of Ohridska AD Skopje will acquire shares of Sparkasse AD Skopje, in a ratio that will be calculated in accordance with the applicable regulations and determined in the Acquisition Agreement.
For the purposes of exchange, Sparkasse will increase the share capital by issuing shares through a private offering, in accordance with the applicable regulations for making changes to the status.
For the purposes of the merger, the supervisory boards of the two banks will conclude an Acquisition Agreement, which will contain the data provided by the Company Law. The accession agreement will become valid after the approval of the shareholders’ assemblies of the two banks, and after the previously obtained permission for status change from the Governor of the National Bank.
“We want to establish a stable and well-capitalized bank with a market share of over 12%. Steiermarkische Bank und Sparkasse AG is committed to supporting the economy in North Macedonia, to be a reliable partner, because we are a long-term strategic partner in Northern Macedonia. The combined bank with its experience and comprehensiveness will be a strong partner for both international and EU companies and investors active in Northern Macedonia, said Georg Buher, member of the Board of Directors of Steiermarkische Sparkasse.
