Erste offered to buy 0.365% in BCR at 1.09 lei (EUR0.25) a share, but the acceptance rate was of only 60.54%, or 34.5 million shares.
“Total investment of Erste for this offer amounts to approximately EUR8.4 million and reconfirms Erste Group commitment towards BCR and Romania,” the Austrian bank said in a statement.
The buyout offer unfolded between February 6 and May 25. In the next few weeks, Erste will consider and accept any late coming acceptance letters from minority shareholders, the statement noted.
The bank said it plans to launch a new minority offer within the next 12 months based on the same calculation formula and considering the new financial figures available at that time.