“I have asked for a meeting Thursday with some of the shareholders who requested the general assembly… Unless they give up their request, our negotiation proceedings with Erste (BCR’s majority holder) would be cut short by at least one month,” SIF Banat-Crisana’s board chairman Ioan Cuzman told MEDIAFAX.
Austria’s Erste Group Bank (EBS.RO) holds 69.4% of BCR’s shares, while the five SIFs own together 30.11%. Under the privatization deal signed in 2006, Erste was supposed to list BCR by October 2009, but the term was delayed until this year.
The SIFs have been carrying talks with Erste officials for “over a year”, trying to decide on the best solution to capitalize BCR’s shares, Cuzman said.
Earlier Wednesday, Erste said it was waiting for a decision from BCR’s minority holders regarding the listing, adding that it was ready to “take any necessary decision.”
“Erste Group Bank reconfirms current talks with the five minority shareholders of BCR – SIF Banat Crisana, SIF Moldova (SIF2.RO), SIF Transilvania (SIF3.RO), SIF Muntenia (SIF4.RO) and SIF Oltenia (SIF5.RO) – on all options regarding BCR’s listing that will match both parties’ interests,” Erste said in a statement.
Last week, several stockholders who own together over 5% in the five SIFs have requested BCR shareholders met to discuss listing its shares in Bucharest.
The request came two months before Erste would have to start procedures for BCR’s listing.