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February 4, 2023

SIF Transilvania shareholders approve the sale of 6 pc stake in BCR

The shareholders of the Financial Investment Company (SIF) Transilvania yesterday approved the sale of the 6 pc stake in Banca Comerciala Romana (BCR), in an Extraordinary General Meeting of Shareholders (AGEA) attended by 29 pc of stockholders, so the investment company may sell in a sole transaction all the shares it holds in the bank, Mediafax reports. Sources with the capital market told Mediafax that the sale of the stake in BCR was decided with almost 72 pc of votes. Later, SIF Transilvania sent the Bucharest Stock Exchange a communique that confirms the news. A total 23 pc of stockholders voted against the sale, while 2.83 pc abstained. Unlike the other SIFs, the general extraordinary meeting of shareholders of SIF Transilvania may meet with a minimum quorum of 25 pc, under the legislation of commercial companies. The other four SIFs have a minimum quorum of 75 pc for the first call.

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