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Fusion between the Stock Exchange Bucharest and Sibex approved by the tribunal. The process will be implemented on 1 January

The tribunal Bucuresti – section VI admitted on Thursday the request regarding the fusion through absorption between Bucharest Stock Exchange - BVB as absorbing company and Sibex – Sibiu Stock Exchange as absorbed company and disposed the registration in the Trade Register the mentions regarding the fusion, announced BVB.

‘This approval allows the two companies that in the future period finalised all the procedure and operational steps necessary for the fusion’ the BVB says.

Thus, after the approval of the fusion between BVB and Sibiu Exchange (Sibex) Romania has a single stock exchange.

‘According to the fusion project approved by the AGM of BVB and Sibex respectively on 12 Apri 2017 and 20 April 2017 respectively , the date for the fusion ( date when the fusion has effects) is established as being the first day of the next month to the moment the tribunal approves the fusion. In this sense, the date for the implementation of the fusion is 1 January 2018’ the announcement says.

As a result of the fusion,Sibex as an absorbed company will be written off the records of the Trade Office as well as from other records as an effect of the dissolution without  liquidation and the taking over of the patrimony by BVB.

The shareholders of BVB who are mainly companies of financial investments approved in April in their AGM the fusion by absorption with the Sibex in Sibiu.

Similarly, in January the AGM of the Sibex shareholders decided for the fusion by absorption with the BVB with a unanimity of votes.

In 2010, the BVB Bucuresti listed on its own regulated market. In 2015 BVB launched on the AeRO market for SMEs and start-ups looking for financing.

BVB has a capitalisation of 211.04 million lei.

The stock exchange announced in November that BVB are traded daily on average over 36.7 million shares issued by 88 companies listed for the main sector. The market value of the 88 companies listed on BVB on the main market was 165 billion lei ( the equivalent of 35.5 billion euro) this year.