November 7, 2017 / 4:48 PM / 4 months ago

BRIEF-Romania's Banca Transilvania wants stake in Moldova's Victoriabank

BUCHAREST, Nov 7 (Reuters) - Romanian lender Banca Transilvania

* EBRD and Banca Transilvania join forces to become majority shareholders of Moldova’s Victoriabank.

* Romania’s Banca Transilvania intends to acquire an initial stake of over 39 percent in Victoriabank - Moldova’s third largest bank - it has requested the approval of the acquisition from the banking regulators of Romania and Moldova and relevant authorities.

* This is the first time a foreign bank investor is entering the Moldovan market since 2007.

* As a result of the planned investment, Banca Transilvania and the EBRD will jointly hold a controlling stake in Victoriabank. In line with the law they will then offer to buy remaining shares.

* The EBRD, a minority shareholder in Victoriabank, increased its stake to 27.5 per cent last year in a move to restore effective corporate governance and attract a strong strategic investor to Victoriabank.

* Banca Transilvania is the second-largest bank by total assets in Romania with the EBRD as a shareholder since 2001. Further company coverage: ($1 = 3.8906 lei) (Bucharest newsroom)

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