Banca Transilvania SA has received regulatory approvals from the Banca Nationala a României and Romania's Competition Council to acquire Greece-based Eurobank Ergasias SA's stakes in Romanian units Bancpost SA, ERB Retail Services IFN SA and ERB Leasing IFN SA.
Under the deal, Banca Transilvania will acquire the majority holding of 99.15% owned by Eurobank Group in the capital of Bancpost as well as the group's holdings in the capital of ERB Retail Services IFN and ERB Leasing IFN. The acquisition of Bancpost is expected to complete the first half of April.
Banca Transilvania said it will begin the other necessary legal procedures to finalize the transaction, following which the integration of Bancpost in the Banca Transilvania's structure will commence.
The Romanian central bank, meanwhile, opposes the acquisition of Banca Româneasca SA from National Bank of Greece SA by OTP Bank Nyrt. unit OTP Bank România SA.
