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Austrian Erste Bank offers to buy out Romanian BCR minority shares.

MANews-(C)2009-2012

8 February 2012 - Romanian lender Banca Comerciala Romana SA (BCR) announced in a statement that its Austrian majority owner Erste Group Bank AG (WBAG:EBS) had launched an offer for the minority shares.

The RON1.09 (USD033/EUR0.25) a share bid will stay open for acceptance until 24 February, the Romanian bank said on its website.

After buying last year BCR shares from the five Romanian investment funds SIFs at prices between RON0.5 and RON1.039 apiece, Erste accumulated a stake of 89.1% in BCR, while the SIFs still own together 10.5%, according to information on BCRa[euro](tm)s website.

SIF 5 Oltenia with 6.59% left in BCR, SIF 1 Banat-Crisana with 2.36% and SIF 4 Muntenia with 1.56% are in the process of selling these stakes to Erste. The rest of the BCR stock is owned by a number of smaller shareholders.Country: Romania, Sector: Banking/Financial ServicesTarget: Banca Comerciala Romana SA (BCR)Buyer: Erste Group Bank AGVendor: SIF 4 Muntenia , SIF 1 Banat-Crisana, Other minority holders, SIF 5 OlteniaType: Corporate acquisitionStatus: Talks, Bidding

.END.PUB430>PDFebruary 8, 2012>JNMANEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M & A Navigator
Date:Feb 8, 2012
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