Sale of Credit Agricole’s Romanian branch reaches competition body

The Competition Council announced on March 2 that it is analyzing the transaction through which Vista Bank Romania plans to take over Crédit Agricole Bank Romania.

The two sides announced the deal last year, but banking market sources familiar with the negotiations suggested some delays in its completion, according to the local media.

"The Competition Council analyzes the transaction through which Vista Bank Romania intends to take over the company Crédit Agricole Bank Romania," informed the competition authority on March 2.

Interested parties may submit any comments and views to the competition authority within 20 days.

"Under the provisions of the Competition Law (no. 21/1996), this transaction must be authorized by the Competition Council. The competition authority will evaluate the operation to establish its compatibility with a normal competitive environment and issue a decision within the law," stated the competition authority.

There is no information from Romania's National Bank (BNR), which also has to approve the deal.

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