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Successful Completion of the Sale of the JUB Group Supported by NLB as Financial Advisor

With authorisation by the majority of JUB Group shareholders (“Shareholders”), NLB announces that on 28 October a Sale and Purchase Agreement in the form of a notarial deed was signed between the Shareholders and DGL International (UKL) Ltd (“DGL”) for the sale of a 99.8% of shares outstanding in the company DP JUB. The DGL is owned by DuluxGroup Limited, a leading manufacturer of paints and coatings in Australia, which is a member of the Nippon Paint Holdings Group, the fourth largest paints and coatings manufacturer in the world. The transaction is subject to certain conditions precedent, such as approval of the transaction by relevant competition protection agencies. The NLB acted as the financial advisor during the sales process.

29. October 2021

“After over 140 years of paints production in Dol pri Ljubljani, we opened a new chapter in the story of JUB Group. Today, JUB is one of the leading companies in the Southeast Europe in the field of paints and ETICs facade systems manufacturing, with strong operations in Central Europe as well. We firmly believe that the combination of JUB’s strong market position in Southeast and Central Europe and the know-how and experience in global market operations as well as the capital strength provided by the future reputable international owner makes solid foundations for JUB Group future growth and development,” said Sašo Kokalj, Director of JUB, when signing the Sales and Purchase Agreement.

On this occasion, Andrej Lasič, Assistant to NLB’s Management Board for Corporate and Investment Banking, pointed out the following: “We are satisfied that we helped JUB Group to get a long-term strategic owner, which will support their future growth. Having successfully closed one of the largest sales transactions in Slovenia in the last couple of years, we have proven that NLB can support its customers in all the markets in the region by giving them financial advice in the most complex corporate finance projects, complementing the standard banking products.

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