Competition Council OKs Idea Bank’s acquisition by Banca Transilvania

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The Competition Council has authorized the transaction through which Banca Transilvania intends to take over Idea Bank and, indirectly, Idea Investment, Idea Leasing IFN and Idea Insurance Broker. The value of the transaction announced in the summer of this year mounts to EUR 43 million.

“Following the assessment, the Competition Council ascertained that this operation does not pose any significant obstacles against the effective competition on the Romanian market or on any substantial part of it and that there is no serious doubts on its compatibility  with the normal competition environment,” reads a press release of the competition authority.

Banca Transilvania has officially announced on June 3 that it will acquire the shares held by the Polish group Getin Holding Group in Idea::Bank, Idea::Leasing and Idea::Insurance Broker, with the combined purchase price mounting to RON 213 million (c. EUR 43m).

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