Erste Makes Buyout Offer for 0.14% BCR Stake, Mediafax Reports
The Vienna-based lender, which increased its holding in the Banca Comerciala Romana SA to 93.27 percent this year, wants to pay about 22 million lei ($6 million) for a 0.14 percent stake in the bank through an offer valid until Oct. 26, Mediafax said today, citing a letter sent to minority shareholders. Erste is paying 0.92 lei for each BCR share, as the offer excludes an investment fund, SIF Oltenia SA (SIF5), which has a 6.59 percent stake in BCR.
Erste bought the minority stakes of four investment funds in BCR as part of a separate offer launched last year.
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