Deals of the year Banking

Newsroom 11/12/2013 | 06:00

Romania’s market for mergers & acquisitions (M&A) has remained at around EUR 1 billion in 2013, driven by deals in the banking and renewable sector, although big investors have held back and are carefully planning moves for next year, say deal makers.

By Ovidiu Posirca

Banking

 

Getin Holding takes over Romanian International Bank

Value of transaction: Not made public

Legal team, buyer: Tuca Zbarcea & Asociatii

Legal team, seller: Wolf Theiss, Cross Point Investment Banking (financial)

Polish financial group Getin Holding fully acquired Romanian International Bank (RIB), a local lender serving retail clients and SMEs. This marked the group’s entrance on the local market. Getin Holding owns a number of banks and financial companies in Ukraine, Russia and Belarus.

 

UniCredit duo buy retail arm of RBS Romania

Value of transaction: Not made public

Legal team, buyer: Tuca Zbarcea & Asociatii

Legal team, seller: RTPR Allen & Overy, EY Romanian (financial)

UniCredit Tiriac Bank and UniCredit Consumer Financing took over the retail business of RBS Bank Romania, accounting for around EUR 315 million in assets and EUR 230 million of liabilities. The deal was the largest portfolio transfer in Romania.

 

Piraeus Bank Greece sells local subsidiary ATE Bank to Dorinel Umbrarescu

Value of transaction: EUR 10.5 million

Legal team, buyer: Not made public

Legal team, seller: Tuca Zbarcea & Asociatii

Romanian businessperson Dorinel Umbrarescu acquired a 93.27 percent stake in ATE Bank Romania, a subsidiary of Piraeus Bank Greece. The deal involved the demerger of ATE Bank Romania and the transfer of certain assets to Piraeus Bank Romania.

 

Dollar Financial Group picks up Express Credit Amanet

Value of transaction: Not made public

Legal team, buyer: DLA Piper, KPMG (financial)

Legal team, seller: Tuca Zbarcea & Asociatii

US-based Dollar Financial Group entered the local market following the acquisition of Express Credit Amanet, a family-owned pawnshop chain based in Iasi. The American company has operations in seven countries, providing payday loans, pawn broking and gold buying services. It reported a turnover close to USD 1.1 billion in 2012.

 

Raiffeisen Banks buys retail arm of Citibank

Value of transaction: Not made public

Legal team, buyer: White & Case

Legal team, seller: PeliFilip and Linklaters (international counsel)

Raiffeisen Bank took over the retail arm of Citibank, a portfolio of 100,000 customers with assets of over EUR 90 million and deposits exceeding EUR 175 million. The deal also included the transfer of Citi’s local consumer banking staff to Raiffeisen.

 

National Bank of Greece takes over Eurobank

Value of transaction: Not made public

Legal team, buyer: PeliFilip, Freshfields Bruckhaus Deringer (client’s English legal counsel)

Legal team, seller: Not made public

The National Bank of Greece acquired the business of Eurobank, which in Romania involves, inter alia, a bank, one financial services institution and two insurance companies.

 

Erste Group entities buy stake in good.bee credit IFN

Value of transaction: Not made public

Legal team, buyer: NNDKP

Legal team, seller: Fruth Oprisan si Asociatii

good.bee Holding, a foundation owned by the Erste Group, alongside Erste Bank Beteiligungen, acquired from a Romanian foundation its participation in good.bee credit IFN, a non-banking institution. The transaction also involved a change in the management of the non-banking financial institution.

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