Erste is offering 0.75 lei (EUR0.1718) a share, down from RON0.92 a share price offered in a similar operation unfolded in September-October last year. At that price, the stake is valued at RON16 million (EUR3.7 million).
The offer addresses BCR minority shareholders other than the regional investment funds SIF Oltenia (SIF5.RO), SIF Banat-Crisana (SIF1.RO) and SIF Muntenia (SIF4.RO).
SIF Oltenia holds around 6.3% in BCR, while the other two funds only own one share each in the local bank.
The new buyout offer doesn’t have any deadlines and the share price will be adjusted quarterly, Erste said. (EUR1=RON4.3643)