EBRD says sells 2.9 pct stake in Romania’s Banca Transilvania

EBRD European Bank for Reconstruction and DevelopmentThe European Bank for Reconstruction and Development it has sold a 2.9 percent stake in private Romanian lender Banca Transilvania through a private placement led by the investment firm Wood & Company. The EBRD it retains an 8.6 percent stake in Banca Transilvania, making it the largest shareholder, according to Reuters.com.

Lucyna Stanczak-Wuczynska, EBRD Director for EU Banks says: “By reducing our stake we are helping to increase the liquidity of Banca Transilvania shares on the Bucharest Stock Exchange, while we continue to support the bank’s long-term growth strategy”. Banca Transilvania shares traded at 2.3550 lei ($0.5506) per share at 1520 GMT, down 0.4 percent on the day. ($1 = 4.2775 lei).

 

Photo: pennenergy.com

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