Investment fund SIF Oltenia, which invested EUR300,000 euro in ATE Bank, has expressed its wish to pull out from the bank’s shareholder structure.
“The situation with the bank is somewhat critical, but I was promised that our shares would be bought,” SIF Oltenia’s president Tudor Ciurezu told Mediafax.
ATE Bank Romania was acquired by Greek Piraeus Bank in the summer of 2012, as part of a larger transaction which included the purchase of ATE Bank Greece and its subsidiaries in central and eastern Europe.
ATE Bank Greece owned 93.27% of ATE Bank Romania’s shares.
As reported by Mediafax in October 2012, several investors were looking to buy an unspecified share in ATE Bank Romania and to increase the bank’s share capital by up to EUR60 million.