Romania's Competition Council announced that it is analyzing the transaction through which banking market leader Banca Transilvania intends to take over the Romanian subsidiaries of the Hungarian group OTP – the bank as well as the leasing, asset management, factoring, and consultancy units, and the OTP Bank Romania Foundation.

The EUR 347.5 million deal, announced on February 9 to be completed in the coming months, will increase Banca Transilvania's total assets by close to 13%, according to S&P Global Market Intelligence calculations.

The deal is closed, but several local authorities, including Romania's national bank, must approve it. 

In accordance with the provisions of Competition Law 21/1996, the Competition Council must authorize the transaction, evaluate it to establish its compatibility with a normal competitive environment, and issue a decision within the terms provided by the law.

iulian@romania-insider.com

(Photo source: Banca Transilvania)