“Carpatica is in advanced talks with an investor. It is only a matter of time before we finally see a deal,” the quoted sources say.
Carabulea was unwilling to comment when ZF contacted him. The fund in question might be EFSE (European Fund for South-East Europe), registered in Luxembourg, which has financed Carpatica on several occasions in the previous years.
Carabulea, who owns about 41.3% in Carpatica directly, has made several attempts to strike a deal, with interested parties including Hungary’s OTP, but negotiations fell through every time when it came to agreeing on a price. The businessman has repeatedly said, including last year, that his goal was to find a strategic investor to drive the bank’s growth.
Meanwhile, Banca Carpatica has embarked upon a modernization process, with a new management and results are starting to show, as losses were cut down to nearly zero at the end of the first half.
(English version by Loredana Fratila-Cristescu)