Deals
Romania’s SIF1 May Sign Erste Agreement in November, CEO Says
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SIF Banat-Crisana SA shareholders probably will approve on Nov. 4 an agreement to sell a minority stake in Banca Comerciala Romana SA, Romania’s largest bank, to Erste Group Bank AG, Chief Executive Officer Ioan Cuzman said.
The fund, also known as SIF1, is one of four Romanian investment funds known as SIFs that agreed to sell their 24.1 percent stake in BCR to Erste for cash and shares worth 435 million euros ($596 million). SIF1 plans to sign the agreement “immediately after shareholders’ approval,” Cuzman said in an interview in Bucharest today.