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BUCHAREST (Romania), February 13 (SeeNews) - Romanian lender Banca Transilvania [BSE:TLV] said on Thursday that its units BT Asset Management S.A.I. and BT Investments have received approval from the financial regulator to acquire 100% of pension fund administrator Certinvest Pensii.
"We are starting with almost 10,000 clients and over 75 million lei ($17.1 million/15.7 million euro) to manage. A period of integration of Certinvest Pensii into BT Financial Group and of preparation for clients will follow," Aurel Bernat, CEO of BT Asset Management, said in a statement.
The Banca Transilvania financial group announced last year its intention to expand its financial services for its over 3 million clients through an investment in the field of private pensions, and signed an agreement to acquire Certinvest Pensii.
As at 12:00 CET on Thursday, Banca Transilvania shares traded 0.39% higher at 2.565 lei on the Bucharest Stock Exchange.
(1 euro = 4.77 lei)