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Eurobank and Banca Transilvania have been pursuing exclusive negotiations as regard to the potential sale of Bancpost, ERB Retail Services IFN SA and ERB Leasing IFN S.A in Romania, a press release informs.
”During the last few weeks there has been significant progress towards a positive outcome and the negotiations have almost been finalized, as parties are completing final formalities for the signing of an agreement. The senior management teams of both ERB and BT would like to re-affirm their commitment to execute a fair and beneficial transaction for all their stakeholders and reassure that the signing of the transaction is estimated for the end of November 2017 and will be announced publicly as soon as the remaining formalities will be finalized,” the release also reads.
Cluj-based Banca Transilvania officials point out that further details will be released to the public and to the investors after finalizing the necessary steps as well as obtaining all relevant approvals.
Earlier this year, Eurobank, the third Greek lender, announced it is looking for a strategic partnership to acquire participations to its subsidiary in Romania, Bancpost, in the attempt to cut its exposure abroad.
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