SIF Oltenia also requested the equivalent value of the shares held at the price to be established by evaluation by an independent authorized expert according to the same law, which says “the price paid by the company for the shares of the person exercising the right of withdrawal will be established by an independent authorized expert, as an average value resulting from the application of at least two valuation methods recognized by the legislation in effect on the date of evaluation”.
The decision comes after the Extraordinary General Meeting of Shareholders of EximBank. of June 6, 2022 approved the merger process by absorption between EximBank (absorbing company) and Banca Romaneasca (absorbed company) and the merger project published in the Official Gazette of Romania, Part IV, no. 1791 on April, 28, 2022.
The merger between EximBank, owned by the Romanian government via the Finance Ministry, and Banca Romaneasca takes effect, legally, accounting-wise and fiscally as of December 31, 2022, at which time Banca Romaneasca will cease to exist.
(English version by Loredana Fratila-Cristescu)