The five transactions were carried out at around 14:00 local time, at a price of RON0.105/share, up 3.45% from Wednesday’s closing price.
Thus, Carabulea sold 47.88 million shares, Atlassib 50 million shares, Corneliu Tanase 12.62 million shares, Nicolae Lupu 54.85 million shares, and Dana Cojocaru 54.85 million shares.
Carpatica on Tuesday said Nextebank will subscribe, by Friday, shares worth RON98.6 million to Banca Comerciala Carpatica’s share capital and plans to subsequently propose Carpatica shareholders again the merger through absorption of Nextebank by BCC.
“Nextebank accepted to subscribe, no later than January 29, all the shares offered within the private placement, namely a total number of 986,663,916 newly-issued BCC shares for a price of RON0.1001/share,” BCC said in a statement to Bucharest Stock Exchange.
The shares were offered to Nextebank after U.S. private equity fund JC Flowers decided not to subscribe within a private placement.
Nextebank’s subscription would be subject to several, mutually agreed conditions.
Banca Comerciala Carpatica announced Tuesday that it halved its net loss down to RON85.43 million in 2015, from RON169.5 million a year before, but its assets also saw a decline, falling by 4.7% to nearly RON3.1 billion, according to preliminary results drafted under IFRS standards. At the end of 2014, Carpatica had assets of RON3.25 billion and its net loss stood at RON169.5 million.
Nextebank’s offer came after private equity fund JC Flowers backed out of the process for the acquisition of Banca Comerciala Carpatica controlled by businessman Ilie Carabulea, because it had failed to reach an agreement with Piraeus Bank for the acquisition of its Romanian division. The fund was interested in acquiring the two banks altogether.
Nextebank submitted a non-binding bid to Banca Comerciala Carpatica, on the last day of 2015, in order to subscribe within a share capital increase offer, but said it wants to conduct an in-depth analysis of the bank’s situation and to enjoy exclusivity until January 26.