Erste Group Plans Complete Takeover of BCR
The Austrian bank wants to become the sole owner of Banca Commerciala Romana.
Since October 2006, Austrian Erste Group is the major shareholder of the Romanian BCR. The sale price totaled € 3.75bn for a 61.9% shareholding. The seller was the Romanian state. Last year, Erste Group increased ist stake up to 89.13% - Erste Group paid € 435m.
The remaining shareholders are state-owned funds (SIF). Now, Erste Group intends to talk with the minority shareholders in order to become the full owner. The Austrian bank bids 1.09 Lei per share, the offer expires by February 24.