The European Bank for Reconstruction and Development (EBRD) has sold its 5 percent stake in Romania's second-largest bank BRD-Groupe Societe Generale (symbol BRD) for EUR 107.5 million, in several deals on the Bucharest Stock Exchange (BSE).

The 38.84 million shares, or a 5 percent interest in the Romanian bank, were sold in eight transactions on the Deal market at RON 13.05 per share, down 5.4 percent from Tuesday's closing price. EBRD has been a stockholder in BRD since 1999, the year when French group Societe Generale bought the majority stake in the bank from the Romanian state.

Information about the buyers of the 5 percent stake is yet to emerge.

Sources: Mediafax, editor@romania-insider.com