“Banca Transilvania S.A. has received the necessary approvals from the National Bank of Romania and the Competition Council in regard to the acquisition of 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. Moving forward, we will begin the other legal procedures required to finalize the transaction with Eurobank Group,” Banca Transilvania said in a statement.
The bank added it estimates the closing of the transaction regarding the acquisition of Bancpost will take place during the first half of April 2018. Once the transaction is finalized, BT will be a Bancpost shareholder with full powers, at which time the integration of Bancpost in the Banca Transilvania’s structure will commence.
On Thursday, Romania’s central bank said it had rejected Hungary’s OTP Bank’s acquisition of Banca Romaneasca from the National Bank of Greece.