Varde US investment fund bids aggressively for Bancpost, sources say

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Varde Partners, an US alternative-investment firm that manages more than USD 12 billion in assets, wants to enter the Romanian banking market and bid extremely aggressively for the acquisition of Bancpost, zf.ro informs, quoting sources.

Financial offers for Bancpost had to be filed last week.

Investment bankers from Mediobanca – Milan and HSBC – London are dealing with this process.

Banca Transilvania was in pole-position for Bancpost purchase, many analysts considering this transaction an ideal one for the Romanian banking market.

Eurobank will complete, until the end of the year, the sale of its subsidiary in Romania, the Greek officials stated recently.

Hungary’s OTP Bank is also bidding for Bancpost.

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