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EBRD reduces stake in Romania’s Banca Transilvania

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Autor: Bancherul.ro
2015-11-13 11:01

The European Bank for Reconstruction and Development (EBRD) has reduced its equity stake in Banca Transilvania, one of the leading banks in Romania. The EBRD sold 86.76 million shares today in an accelerated bookbuild placement on the Bucharest Stock Exchange.

The transaction was successfully launched on the Bucharest Stock Exchange on 12 November 2015 after the market’s close. The sale attracted strong interest from a broad mix of domestic and international institutional investors. Wood & Co acted as sole bookrunner of the offering.

Following the sale, the EBRD continues to hold 11.47 per cent of Banca Transilvania’s shares. The Bank has been the largest shareholder in Banca Transilvania since 2001 when it acquired a 15 per cent stake to strengthen the bank’s capital base and support the expansion of its activities and loan portfolio. Since then, Banca Transilvania has grown into the third largest bank by assets in Romania.

Nick Tesseyman, EBRD Managing Director, Financial Institutions, said: “We are very pleased with Banca Transilvania achievements over the past few years, notably its strong position as an innovative and fast-growing locally-owned bank in Romania. The bank’s resilient and adaptable business model, its proven ability to face headwinds with speed, openness and transparency, its committed and experienced management and all-important support from the stakeholders make Banca Transilvania a strong and resilient bank with a proven track record.”

He added: “As a continuing shareholder, the EBRD remains confident about Banca Transilvania future prospects and its capacity to further strengthen its profitability and market position. By reducing our stake we are helping to increase the liquidity of Banca Transilvania stock, while we continue to support the bank’s growth strategy.”

The EBRD is a leading institutional investor in Romania with almost €1.5 billion invested in 75 projects over the previous country strategy period. In total, the Bank has invested over €7 billion in the country to date and has also mobilised more than €14 billion from other sources of financing in all sectors of the country’s economy.

Source: EBRD press release

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