Eurobank has completed the sale of its units in Romania, as was announced by the Eurobank Group and BT (Banca Transilvania), having completed on 3 April, 2018, all remaining actions, and met all the preconditions for the transfer to BT of the shares held by the Eurobank Group in Bancpost S.A., ERB Retail Services IFN S.A., and ERB Leasing IFN S.A.
Before the completion of the transaction, BT received the necessary regulatory approvals for the acquisition from the National Bank of Romania (the country’s Central Bank) and the Romanian Competition Council.
The total value of the transaction, after the distribution of a special dividend and capital return is 301 million euros.
«With the completion of the current transaction, Eurobank fulfils well ahead of time its commitment towards the European Commission for the reduction of its foreign presence. After the departure from Romania, Eurobank will retain significant presence in Cyprus and Bulgaria, as well as presence in Serbia and Luxemburg,» Eurobank Group said in a press release. «Also with the above transaction Eurobank concludes in substance its restructuring plan,» the Eurobank Group said in a statement issued yesterday.
«With the completion of the current transaction, Eurobank fulfils well ahead of time its commitment towards the European Commission for the reduction of its foreign presence. After the departure from Romania, Eurobank will retain significant presence in Cyprus and Bulgaria, as well as presence in Serbia and Luxemburg,» Eurobank Group said in a press release. «Also with the above transaction Eurobank concludes in substance its restructuring plan.»
