The request for the central bank approval for the takeover of Zagrebačka banka withdrawn

Published: 6/6/2001

At its meeting held on Wednesday, June 6, 2001, the Council of the Croatian National Bank did not review the joint request of Unicredito Italiano S.p.A. Milano for prior Croatian National Bank approval for acquiring up to 70 percent of voting shares in Zagrebacka banka d.d. Zagreb, and of Allianz AG München for acquiring up to 20 percent of voting shares in the same bank. The request submitted to the Croatian National Bank on May 29, 2001 had been examined by relevant central bank experts following urgent procedure and delivered, containing a proposal that the request be rejected, to the members of the CNB Council as a supplement to the agenda of the Wednesday's meeting.

On Tuesday, June 5, 2001, submitters of the request informed the Croatian National Bank that they are withdrawing their request for approval for acquiring in total up to 90 percent of voting shares in Zagrebacka banka, "in order to review again and resolve all questions relevant for the planned transaction." Informed about such a decision of the submitters, the CNB Council did not engage in deciding on the previously received request.