September 21, 2018

EBRD Sold 5 % From BRD

The European Bank for Reconstruction and Development (EBRD) said it sold its 5 % stake in BRD, Romania’s second-largest bank. BRD is controlled by France’s Societe Generale. Back in 1999, EBRD bought the shares to support BRD, which had just been privatized. Nick Tesseyman, an EBRD director, said in a statement that their position as BRD shareholders fits with the rise of Romania’s attractiveness for institutional investors.

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