Moneta Money Bank is likely to receive an alternative proposal on its merger with Air Bank, the Czech lender’s Chief Executive Tomas Spurny said on Thursday.
Shareholders in Moneta rejected in June a share issue that would have given its biggest investor, PPF, a controlling stake and would have helped pay for a proposed $1.2 billion acquisition of PPF’s Czech lending assets.
Although a majority of 61.7% voted for the proposal, it did not pass the 75% threshold needed.
“As we saw at the EGM, the acquisition was supported by the majority of shareholders, over 60%, and it is likely that we will receive an alternative proposal from the selling counterparty and the largest shareholder of the bank,” Spurny told reporters.
“If and when that happens, we will immediately communicate to the market,” he said.
Earlier on Thursday, Moneta reported a 78% rise in second quarter net profit to 833 million crowns and raised its net profit guidance for the whole 2021 to 3.0 billion crowns ($139.39 million) from previous 2.8 billion crowns.
Source: Reuters.com