On Thursday 11 May, the European Commission approved a request by the Slovenian State to divest its shares progressively in the bank Nova Ljubljanska Banka (NLB), thereby amending a 2013 decision on the restructuring of the bank in question (see EUROPE 10988).
Under the 2013 decision of the institution, the Slovenian State was required to sell the shares it held in the bank by a deadline which remains confidential. In the decision of 11 May, the Slovenian authorities will maintain their commitments, but have been given extra time to sell some of the shares. They will carry out the sale of the first tranche within the timeframe previously agreed with the European Commission, before carrying out a second sale procedure at a later date.
On the basis of the proposal from the Slovenian State, the Commission considered the aid granted to the bank not to be incompatible with the stipulations of the Treaty on the Functioning of the European Union as regards State aid.
The bank NLB was recapitalised in 2011, 2012 and 2013 by Slovenia in order to ensure its viability. (Original version in French by Lucas Tripoteau)