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May 9, 2021

SIF Muntenia may go on with selling its stake in BCR

Shareholders in the Financial Investment Company (SIF) Muntenia gave green light to the Board of Administrators to decide what to do with the shares held in Banca Comerciala Romana (BCR), Mediafax informs. The decision was made because the variant of listing has only 1 pc chances to be achieved, said the Chairman of SIF Muntenia, Petre Szel. The agenda of the General Meeting of Shareholders includes giving the administrator of SIF Muntenia a mandate to request the listing of BCR, by October 13 at latest, if “the negotiations about a new way of using SIF Muntenia’s stake in Banca Comerciala Romana are not finalised until that date, in compliance with the memo submitted by the administrator of SIF Muntenia.” The aforementioned memo explains that listing BCR would be “the last-resort solution,” given the evolutions of Proprietatea Fund shares and the failure of the secondary offer from OMV Petrom.

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