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OTP Banka, Société Générale-Splitska merger wins approval in Croatia

( April 20, 2017, 16:27 GMT | Official Statement) -- MLex Summary: Croatia's competition authority today said it had approved plans by OTP Banka Hrvatska to buy a controlling stake in rival bank Société Générale-Splitska Banka. The merger will also see OTP Banka acquire indirect stakes in the companies SG Leasing, SB nekretnine, SB Zgrada and Société Générale Osiguranje, the regulator said. In clearing the deal, the watchdog said it would create Croatia's fourth-biggest bank and would place "significant competitive constraints on the remaining three strongest market players — Zagrebačka, Privredna and Erste banks."The full text follows....

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