In a dramatic turn in Austria’s banking sector, the fight for Addiko Bank, once part of Hypo Alpe Adria, has reignited after a period of uneasy calm.
Serbian businessman Aleksandar Kostić, heir to the MK Group fortune, has entered the fray through his company Agri Europe Cyprus.
His competitors include Davor Macura‘s Alta Pay and Slovenia’s NLB Bank, with each player jostling for influence over the embattled institution.
The European Central Bank (ECB) has intervened, blocking voting rights and halting dividend payouts for 2024 as tensions over shareholder coordination intensified.
Alta Pay and Diplomat Pay were found to have acted in concert, prompting swift regulatory action.
However, with Diplomat Pay selling its 9.99% stake to Austrian investor Alexander Schutz, the ECB has lifted its restrictions, bringing a new chapter to the ongoing saga.
While small by market standards, Addiko’s strategic positioning in the European banking market has made it a coveted prize, turning this struggle into a high-stakes financial thriller.
