Raiffeisen Bank International (RBI) has completed the sale of its Slovenian division Raiffeisen Banka after securing all necessary regulatory approvals.

The Slovenian business has been acquired by Biser Bidco, owned by Apollo Global Management and the EBRD. The companies have not disclosed the price of the deal.

Raiffeisen Banka’s Gvido Jemensek will continue in his role as CEO.

The deal, announced in December 2015, was part of its transformation program that started in February 2015.

RBI said that the sale’s deconsolidation effect on its consolidated result will be nearly minus EUR53m.

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The transaction will also reduce RBI’s risk-weighted assets by about EUR218m, and will have a slightly positive effect on RBI’s CET1 ratio (fully loaded) as the loss of transaction has already been recognised in 2015.

The Slovenian Raiffeisen Leasing is excluded in the deal, RBI added.