BUSINESS BUSINESS COMPANIES FINANCE&BANKING

Banca Transilvania has received BNR’ approval for the acquisition of Bancpost

Banca Transilvania will start the specific proceedings for finalizing the transaction with Eurobank Group regarding the acquisition of the Bancpost shares, according to an announcement published on the website of the Bucharest Stock Exchange (BVB).

“Banca Transilvania has received the required approvals from the National Bank of Romania and the Competition Council for the acquisition of the majority shareholding (99.15%) owned by Eurobank Group in the share capital of Bancpost, as well as of the shareholdings in the share capital of the Romanian companies in the Eurobank Group, namely ERB Retail Services IFN and ERB Leasing IFN” reads the document.

Thus, according to BT, in the coming period, specific proceedings will be initiated in order to finalize the transaction with Eurobank Group.

Banca Transilvania expects to finalize the transaction for the acquisition of Bancpost in the first half of April 2018. After finalizing it, BT will become a shareholder with full rights, and this is also the moment when Bancpost will start to be integrated in the Banca Transilvania’s structure.

According to the agreement concluded with the EU competition authorities, Eurobank must sell assets outside Greece in amount of EUR 8.7 billion until 2018. Eurobank announced that the possible sale will include its subsidiaries in Romania: Bancpost, ERB Retail Services IFN and ERB Leasing IFN.

Bancpost, whose total assets reach EUR 3.1 billion and 2,255 employees, has a network of 148 branches in Romania, this country thus being one of the largest markets of Eurobank outside Greece.

Banca Transilvania is the second largest bank in Romania, and the core of the BT Financial Group. Its activity is organized on three main business lines: Corporate, SMEs and Retail. The bank has 2.2 million clients, over 7,000 employees and more than 500 premises. BT Group has expertise in the Republic of Moldova since 2008, thanks to the BT Leasing MD subsidiary, the market leader in the Republic of Moldova in terms of the amount of financing the fixed assets provided in leasing.

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