ATEbank hired the Greek subsidiary of consultancy firm Deloitte as exclusive advisor for the procedure.
The Greek lender expects non-binding offers from investors until January 16, 2012, while the winner will be selected after a two-phased procedure, ATEbank said.
“The main objectives of the procedure are to achieve the selection of the most suitable investor and the completion of a successful transaction within a short period of time and with the least possible disturbance to the operations, personnel and customer base of ATEbank Romania,” the statement noted.
Founded in 1990, ATEbank Romania runs 30 branches nationwide and employs 317 staff. End-June, the bank reported total assets of EUR382.7 million.