One month ago, BCR majority shareholders Erste Group Bank (EBS.RO) proposed a RON644 million increase in the share capita, through the subscription of 6.18 billion shares, with a face value of RON0.1.
According to the current shareholding structure, Erste Bank, with its 70% stake, needs to subscribe shares worth some RON450 million in the operation, while the SIFs would contribute RON193 million and RON38.6 million each.
Erste, majority owner of BCR, said in September it has reached an agreement in principle with four of the five minority holders SIFs to acquire 24.12% in BCR for EUR435 million in cash and stock via a series of transactions.
SIF Moldova has not entered the agreement in principle, but it has called for a shareholder meeting November 26 to vote on Erste’s proposal, officials of the Austrian lender said recently. (EUR1=RON4.3448)