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Banca Transilvania offers to buy remaining 33.2% of Moldova's Victoriabank
Romania’s Banca Transilvania [BSE: TLV] said on it Wednesday it is launching the mandatory public tender offer for the minority stake it does not already own in Victoriabank, Moldova’s third-largest lender, seenews.com informs.
"The mandatory public tender offer is targeted exclusively towards the minority shareholders of Victoriabank and it applies to the remaining 8.3 million shares, or 33.2% of total ordinary nominative shares with voting rights," Banca Transilvania said in a statement filed with the Bucharest Stock Exchange, BVB.
The offered price per share is 78.21 MDL ($4.7/3.2 euro) and the mandatory public tender offer is valid for a period of 70 calendar days, between February 14 and April 24.
Banca Transilvania said it will communicate the results of the offer immediately after the finalization of the procedure.
Banca Transilvania said on January 16 it has become a shareholder of Victoriabank alongside the European Bank for Reconstruction and Development (EBRD), a minority shareholder, with a total participation of over 66%. The EBRD said that Banca Transilvania has acquired a 39.2% stake and after the transaction the two shareholders hold a combined stake of 66.7% in the Moldovan lender. In November, the European Bank for Reconstruction and Development (EBRD) said that Banca Transilvania intended to acquire an initial stake of over 39% in Victoriabank.
The priorities of Banca Transilvania for Victoriabank are to support the business environment in Moldova, especially the SME and microenterprise sector, and to develop a wider range of products and services for retail clients.
Victoriabank has almost 30 years of activity, 540,000 customers, 1,400 employees and nearly 100 units.
The Banca Transilvania Financial Group has been present in Moldova for over 10 years, since having founded the company BT Leasing MD.
Banca Transilvania's shares traded 0.22% higher at 2.3150 lei as at 1117 CET on Wednesday on the Bucharest Stock Exchange.