Erste Group Increases Stake in Romanian BCR

Professional Services › Banks ♦ Published: September 14, 2011; 21:29 ♦ (Vindobona)

The Austrian bank enters into agreement with four regional investment funds to acquire a further 24.12% in its Romanian subsidiary.

Erste Group Increases Stake in Romanian BCR / Picture: © Erste Group / Helmut Lackner

Erste Group Bank AG announced it has reached an agreement in principle with four of the five SIF minority shareholders in Banca Comerciala Romana (BCR) – SIF Banat Crişana, SIF Transilvania, SIF Muntenia and SIF Oltenia (participating SIFs) – whereby Erste Group will acquire their 24.12% stake or 2,618,286,036 shares in BCR. Subject to the successful completion of the respective…

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