Romania’s Competition Council has authorized the transaction through which Banca Transilvania intends to take over the local companies controlled by Hungarian group OTP - OTP Bank Romania, OTP Leasing Romania IFN, OTP Asset Management Romania, OTP Factoring, and its subsidiaries, OTP Consulting Romania, OTP Advisors, and OTP Bank Romania Foundation. 

Banca Transilvania (BVB: TLV) is the biggest financial group in Romania by assets, and with this transaction will consolidate its position and increase its market share to almost 23%. 

“Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or a substantial part of it and that there are no serious doubts regarding its compatibility with a normal competitive environment,” the watchdog said in a press release. 

Banca Transilvania and OTP group announced the transaction in February 2024. The value of the deal is EUR 347.5 mln.

andrei@romania-insider.com

(Photo source: OTP Bank)