“The Central Depository registered, on January 23, 2019, the merger through absorption of Banca Transilvania and Bancpost – as absorbed company, according to ASF registration certificate of financial instruments. Thus, TLV’s share capital was increased by 2,602,278 shares, with a face value of RON1 per share, from RON4.812 billion to RON4.815 billion”, the Central Depository said in a statement.
Early 2019, Banca Transilvania management announced that Banca Transilvania and Bancpost had become a single bank following their merger that took place on December 31, 2018 and after carrying through a plan for Bancpost’s integration into Banca Transilvania’s activity throughout a nine-month period.
Banca Transilvania started integrating Bancpost operations in April 2018, once the acquisition was cleared by the Romanian antitrust body and the Romanian central bank.
End-November 2017, Banca Transilvania signed an agreement to acquire the majority holding of 99.15% owned by Eurobank Group in the capital of Bancpost S.A. as well as the acquisition of holdings in the capital of the Romanian companies which are part of the Eurobank Group, namely ERB Retail Services IFN SA and ERB Leasing IFN SA.
The total value of the transaction reaches EUR226 million, of which nearly EUR179 million for Bancpost only, complemented by Banca Transilvania’s taking over a subordinated loan worth EUR80 million for Bancpost. End-June 2018, Banca Transilvania carried out a process whereby it also acquired the remaining stake of 0.85% in Bancpost.