The Financial Supervisory Authority (ASF) has granted the local lender Nextebank the approval to launch the mandatory takeover bid for a 45.2% stake in the Romanian bank Banca Comerciala Carpatica (BCC) at a price of RON 0.105 per share.

Nextebank will thus have to pay EUR 23.4 million. The public offer will take place between March 2 and March 22.

At the end of January, Nextebank announced that it had completed the acquisition of a majority stake of 54.7% in Banca Comerciala Carpatica. It bought the shares of several shareholders and subscribed shares in a capital increase process.

Nextebank has already invested over EUR 27 million in Carpatica shares and the final investment could amount to over EUR 50 million. The lender will start a merger process with BCC after all the legal procedures are met.

Banca Comerciala Romana reduced its losses last year from EUR 38 million to EUR 19 million.

editor@romania-insider.com