“Slovenia’s failure to privatize its largest lender Nova Ljubljanska Banka (NLB) by the December 31, 2017 deadline means the aid the government granted to the bank in 2013 was unlawful, the European Commission (EC) said on April 6. Ljubljana also did not propose a divestiture trustee to sell NLB’s foreign Balkan subsidiaries by November 30, 2017.

Slovenia had committed to sell 75% minus one share of the bank in a restructuring plan that served as a basis for the European Commission’s approval of state aid to the bank in the 2013 bailout of several major banks, but scrapped a planned IPO last June amid a dispute over the pricing of the offer and an ongoing lawsuit over Yugoslav-era deposits in Croatia. Now, it is unlikely the sale of the bank will happen in the near future, as the country will hold parliamentary elections in May or June, and a significant number of Slovenians heavily oppose sales of state-owned assets.” (BNE)