Failure to comply will result in court action and in penalties for SIf Banat-Crisana’s board members, CNVM said.
Mid-September, Austrian Erste Group Bank AG said it has reached an agreement in principle with SIF Banat-Crisana, SIF Transilvania, SIF Munteania and SIF Oltenia to acquire their stakes in BCR for EUR435 million in cash and stock via a series of transactions.
The deal is subject to SIF corporate approval proceedings and SIF Banat-Crisana is the only minority investor in BCR that failed to schedule a shareholder meeting on the issue.