US investment fund eyes Credit Agricole’s Romanian subsidiary
American investment fund JC Flowers, which owns Romanian lender First Bank (the former Piraeus Bank Romania), is eyeing Credit Agricole’s local subsidiary, which ranks as the 23rd local bank by assets, for a new acquisition, Ziarul…
Romania Insider · Journalist
· Updated · 1 min read
American investment fund JC Flowers, which owns Romanian lender First Bank (the former Piraeus Bank Romania), is eyeing Credit Agricole’s local subsidiary, which ranks as the 23rd local bank by assets, for a new acquisition, Ziarul Financiar reported.
JC Flowers already bought Piraeus Bank and Leumi Bank.
The fund’s representatives entered the data room opened by Credit Agricole. Credit Agricole’s local subsidiary had assets of RON 1.9 billion (EUR 400 million) and a market share of 0.42% at the end of 2018. Its own funds, namely the share capital plus reserves, were RON 179 mln (EUR 38 mln).
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