M&A alert. Banca Transilvania to offer RON 147 mln for minority stake in Victoriabank

Banca Transilvania said it will offer MDL 78.21 per share for taking over a minority stake of 33.23 percent in Victoriabank, the lender based in the Republic of Moldova.

“The mandatory public tender offer is targeted exclusively towards the minority shareholders of Victoriabank and it applies to the remaining 8,308,673 shares issued by Victoriabank SA, which constitutes 33.23% of the total number of ordinary nominative shares with voting rights, in accordance with the approval of the National Commission of the Financial Market,” said Banca Transilvania in a statement.

Converted into the Romanian currency, the bank will pay RON 17.7 per share. For the whole stake, BT will offer RON 147 million.

The public tender will run between February 14 and April 24.

On Tuesday evening, the closing price for one BT share was up 1.09 percent to RON 2.3100 on the Bucharest Stock Exchange.

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