Brief: Romania's Banca Transilvania wants stake in Moldova's Victoriabank

Banca Transilvania

07/11/2017 16:46

BUCHAREST, Nov 7 (Reuters) - Romanian lender Banca 
Transilvania  ROTLV.BX      
    * EBRD and Banca Transilvania join forces to become majority 
shareholders of Moldova's Victoriabank. 
    * Romania's Banca Transilvania intends to acquire an initial 
stake 
of over 39 percent in Victoriabank - Moldova's third largest 
bank - it has requested the approval of the acquisition from the 
banking regulators of Romania and Moldova and relevant 
authorities. 
    * This is the first time a foreign bank investor is entering 
the 
Moldovan market since 2007. 
    * As a result of the planned investment, Banca Transilvania 
and 
the EBRD will jointly hold a controlling stake in Victoriabank. 
In line with the law they will then offer to buy remaining 
shares. 
    * The EBRD, a minority shareholder in Victoriabank, 
increased its 
stake to 27.5 per cent last year in a move to restore effective 
corporate governance and attract a strong strategic investor to 
Victoriabank. 
    * Banca Transilvania is the second-largest bank by total 
assets in 
Romania with the EBRD as a shareholder since 2001.  
Further company coverage:  ROTLV.BX  
 
 
($1 = 3.8906 lei) 
 
 (Bucharest newsroom) 
 ((radu.marinas@thomsonreuters.com; +40 21 305 5266)) 
 
Keywords: BANCATRANSILVANIA/