Four bidders line up for Credit Agricole’s Romanian subsidiary
Four financial institutions have notified Romania’s National Bank (BNR) that they want to buy the local subsidiary of French group Credit Agricole, which was put up for sale by the parent group along with the Serbian subsidiary.
Romania Insider · Journalist
· Updated · 1 min read
Four financial institutions have notified Romania’s National Bank (BNR) that they want to buy the local subsidiary of French group Credit Agricole, which was put up for sale by the parent group along with the Serbian subsidiary.
However, one of the four - US investment fund JC Flowers - is no longer interested in this transaction according to Economica.net. The other three bidders are the Greek-owned banks Alpha Bank and Vista plus the Management Financial Group (MFG) in Bulgaria - an investment fund in the non-bank financing area, with branches in Central and Eastern Europe region.
Alpha Bank seems to lead in the race for Credit Agricole’s subsidiary, particularly if the French group chooses to sell its subsidiaries in Romania and Serbia as a package, Economica.net reasoned adding that it is premature to evaluate the bidders’ chances.
Credit Agricole Romania was the 23rd largest local bank with assets of RON 1.9 billion (about EUR 400 million), and a market share of 0.42%, at the end of 2018.
(Photo source: Cineberg Ug/Dreamstime.com)
