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Moldova’s Victoriabank buys BCR’s local unit for 11.5 mln euro

Jan 12, 2024, 2:29:08 PMArticle by Bogdan Todasca
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January 12 (SeeNews) - Moldovan lender Victoriabank acquired on January 11 a 100% stake in BCR Chisinau, the local unit of Romania’s Banca Comerciala Romana (BCR) for 224 million Moldovan lei ($12.6 million/11.5 million euro), data from the Moldovan Stock Exchange showed.

Moldova’s Victoriabank buys BCR’s local unit for 11.5 mln euro
Source: BCR, Victoriabank

A total of 72,813 shares of BCR Chisinau changed hands at 3,076.53 lei per share, below the nominal value of 10,000 lei per share, according to data published by the Moldovan Stock Exchange on Thursday.

In March 2023, BCR agreed to sell its subsidiary in Moldova to Victoriabank. Moldova’s antitrust authority approved the acquisition in July, saying that it was compatible with a regular competition environment.

Romanian lender Banca Transilvania [BSE:BT] and the European Bank for Reconstruction and Development (EBRD) jointly hold 72.19% of the share capital of Victoriabank through VB Investment Holding BV. Banca Transilvania first acquired a 39.18% stake in Victoriabank in January 2018. Four months later, the buyer increased its holding by 5.42%.

Romania’s BCR is part of Austria’s Erste Group Bank [BSE:EBS].

(1 euro=19.4932 Moldovan lei)

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