The operation will involve the issuing of 396.423 million new shares with a face value of RON0.1 each.
Getin Holding completed the transaction whereby it acquired VB Leasing Romania IFN and VB Leasing Poland from Austria’s VB-Leasing International Holding, after getting the approval of Romania’s Competition Council.
Following the transaction, Romanian International Bank (RIB), controlled by Getin Holding, purchased the receivables stemming from the credit and leasing contracts of VB Leasing Romania, in order to strengthen its portfolio and market position.
The purchase contract was signed early September in Warsaw (Poland), after the preliminary agreement with VB-Leasing International Holding Austria had been concluded on May 15, within a transaction worth PLN163 million (EUR38.9 million) which received all regulatory authorizations.
Getin paid nearly PLN52 million (EUR12.4 million) for VB Leasing Romania and approximately PNL111 million (EUR26.5 million) for VB Leasing Poland. The acquisition is part of the Polish group’s strategy to develop on the leasing segment and consolidate its position on Romania’s financial market. Getin Holding entered the local market at the end of 2013, after taking over RIB.
VB Romania IFN is among the biggest six players on the local leasing market and operates seven units.
RIB has been present on the Romanian market since 1998 and has 34 units, of which 15 in capital Bucharest. Besides Poland and Romania, Getin Holding also operates in Russia, Ukraine and Belarus, in the banking, financial brokerage, insurance and leasing sectors.
Getin Holding is 55.8% owned by businessman Leszek Czarnecki and is one of the largest companies listed on the Warsaw Stock Exchange. (EUR1=RON4.4061)