Romanian Banca Transilvania agrees deal to buy Greek Eurobank's Bancpost

Banca Transilvania

24/11/2017 06:47

BUCHAREST, Nov 24 (Reuters) - Banca Transilvania  ROTLV.BX , 
Romania's second-largest bank said on Friday it has reached an 
agreement with Greece's Eurobank  EURBr.AT  to buy its Romanian 
subsidiary Bancpost and will sign the contract later in the day. 
    The deal, which will be subject to regulatory approval, will 
also give Banca Transilvania stakes in ERB Retail Services and 
ERB Leasing, part of the Romanaian group.  
    Banca Transilvania, which did not disclose financial details 
of the acquisition, said it will begin integrating Bancpost 
operations in 2018.    
    The sale is part of a restructuring plan agreed by Greece's 
third largest lender with European Union authorities. Greek 
banks have been divesting assets and foreign subsidiaries to 
focus on their domestic market under a restructuring drive. 
 
 (Reporting by Luiza Ilie) 
 ((luiza.ilie@thomsonreuters.com; +4021 305 5262; Reuters 
Messaging: luiza.ilie.thomsonreuters.com@reuters.net)) 
 
Keywords: ROMANIA BANCA TRANSILVAN/