July 20, 2018

An additional 6 % of BCR goes to Erste Group

On Monday Erste Group announced it acquired another stake of almost 6 % in the Romanian Commercial Bank (BCR), within the agreements closed with the financial investment companies (SIFs). The operation took place in exchange of some cash transactions and an issue of new shares. A release of the bank says that in 2011 Erste Group purchased a 14.5 % stake in BCR in exchange of issuing some 12,300,878 new Erste Group shares and 4 % of BCR for 380.7 million lei. The stake owned by Erste Group in BCR amounts to 88 %. Some 4,025,566 Erste Group shares were issued within the third tranche of the agreement with SIF Moldova. In the transaction, SIF Moldova obtained its input quota accounting for 4.74 % of BCR shares (representing 515,104,582 BCR shares), a stake quota in Erste Group standing at about 1% (representing 4,025,566 Erste Group shares).

Source: AgerPres (read more)

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