Republic of Serbia to buy shares in Komercijalna Banka from EBRD and IFC Capitalization Fund.

Republic of Serbia agreed to buy a 34.58% stake in Komercijalna Banka, a bank founded in 1970 with headquarters in Belgrade, Serbia, from EBRD and IFC Capitalization Fund. Following completion of the transaction, the Republic of Serbia will own 83.23% of the ordinary shares of the bank. Financial terms were not disclosed. The Republic of Serbia, EBRD and IFC Capitalization Fund are confident that the Bank is well positioned to achieve a successful privatization, for the utmost benefit of the Bank’s clients, the Serbian Banking sector as a whole as well as the Republic of Serbia.