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Dec 09, 2009 18:56 EEST
BUCHAREST (Romania), December 9 (SeeNews) – A bank based in the European Union plans to raise to 20% its stake in Romania’s Banca Transilvania after acquiring four percent of the lender’s shares earlier this week on the Bucharest bourse, news agency Mediafax reported on Wednesday.
The credit institution plans to initially buy 10% of Banca Transilvania and to later raise its stake to 20%, Mediafax quoted market sources as saying.
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Nearly 42.52 million shares of Banca Transilvania, corresponding to a 4.01% stake, changed hands for a combined 102 million lei ($35.4 million/24 million euro) in five transactions on the Bucharest Stock Exchange, BVB, on Monday. The bourse does not disclose the identity of the buyers.
In November the Romanian bank said that the International Finance Corporation will become one of its largest shareholders with a 3.62% stake, following the conversion of bonds worth $20 million (13.6 million euro) into shares. The European Bank for Reconstruction and Development is currently the largest shareholder with a 15% stake. Various companies and individuals own the remainder.
Banca Transilvania is part of the blue-chip BET index of the Bucharest Stock Exchange. Its shares closed down 2.83% at 2.06 lei on Wednesday. Its nine-month net profit fell to 48.3 million lei from 396.6 million a year ago.
(1 euro = 4.2485 Romanian lei)
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