March 14 (SeeNews) - Romania's Banca Transilvania [BSE:TLV] said on Monday it is taking over consulting company Capital Partners through its brokerage arm, BT Securities.
"The transaction resides in the take-over of the Capital Partners brand and team, whereby BT Securities will become BT Capital Partners, following the completion of the appropriate legal steps," the bank said in a press release, adding that the deal is expected to be completed by the end of March.
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"BT Capital Partners will focus on Romanian companies with investment potential and will contribute to the consolidation of the strongest financial pole with Romanian capital,” Capital Partners main partner and chairman Doru Lionachescu was quoted as saying in the press release.
BT Capital Partners will advise and assist companies in their listing on the capital market and in attracting new investors, will provide brokerage services, consultancy for mergers and acquisitions, financing and structuring of complex financing schemes, market research and consultancy for strategic management, the bank added.
"This new acquisition is part of BT Financial Group’s strategy to take advantage of the growth opportunities on the local market,” Banca Transilvania board of directors chairman Horia Ciorcila said.
In January, Banca Transilvania wrapped up a merger with Volksbank Romania (VBRO), which it bought from Osterreichische Volksbanken AG, Groupe BPCE, DZ Bank AG and WGZ Bank AG.
Some 10% of Banca Transilvania's total 2.2 million clients are VBRO clients, and 400 of its 7,300 employees work for VBRO.
Blue chip Banca Transilvania is the largest Romanian privately-owned bank.
It posted a record profit of 2.42 billion lei ($601 million/542 million euro) in 2015, a fivefold rise on the year. Its assets totalled 47.2 billion lei at the end of 2015, up 33%, while operating revenues rise 14.3% to 2.28 billion lei.
Capital Partners, founded by Lionachescu and partners 10 years ago, has advised on transactions amounting to more than 2 billion euro ($2.21 billion) so far.
(1 euro = 4.4624 Romanian lei)
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