OTP signs agreement to sell its Romanian branch to Banca Transilvania

Banca Transilvania

09/02/2024 13:19

BUDAPEST, Feb 9 (Reuters) - OTP Group  OTPB.BU  signed a
binding agreement with Banca Transilvania (BT)  ROTLV.BX  on
Friday to sell its stake in OTP Bank Romania for a combined
purchase price of 347.5 million euros ($374.57 million), the
bank said in a statement. 
    "After obtaining the regulatory approvals, BT will commence
the legal and operational merger with OTP Bank Romania," the
statement read. Shares in OTP Bank, Hungary's biggest lender,
were trading at 16780 forints ($46.58), up by 2%, in intraday
trading.
    


($1 = 360.2200 forints)

($1 = 0.9277 euros)

 (Reporting by Boldizsar  Gyori)
 ((Boldizsar.Gyori@thomsonreuters.com;))