Erste Bank launches offer for buying BCR shares held by bank's employees

Erste Bank der oesterreichischen Sparkassen AG announced on Tuesday the launch of a purchasing offer for buying the BCR shares held by the former or present employees of the bank, after the October 12 takeover of BCR.According to a release issued by Erste, the former or present employees of BCR hold 63,397,500 shares, representing an 8% stake in BCR. These will have either the opportunity to sell their shares or swap them with Erste Bank ones. The price offer is based on the price of 7.65 euros per share paid by Erste Bank for buying the majority stake of BCR. The offer is valid between November 1 - 24. All the payments and transfers will end by December 22 at the latest.(...)

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