Competition body screens sale of OTP Romania to Banca Transilvania
Romania's Competition Council announced that it is analyzing the transaction through which banking market leader Banca Transilvania intends to take over the Romanian subsidiaries of the Hungarian group OTP – the bank as well as the…
iulian ernst · Journalist
· Updated · 1 min read
Romania's Competition Council announced that it is analyzing the transaction through which banking market leader Banca Transilvania intends to take over the Romanian subsidiaries of the Hungarian group OTP – the bank as well as the leasing, asset management, factoring, and consultancy units, and the OTP Bank Romania Foundation.
The EUR 347.5 million deal, announced on February 9 to be completed in the coming months, will increase Banca Transilvania's total assets by close to 13%, according to S&P Global Market Intelligence calculations.
The deal is closed, but several local authorities, including Romania's national bank, must approve it.
In accordance with the provisions of Competition Law 21/1996, the Competition Council must authorize the transaction, evaluate it to establish its compatibility with a normal competitive environment, and issue a decision within the terms provided by the law.
(Photo source: Banca Transilvania)
