The US investment fund Varde works with the US firm Rothschild in the attempt to take over lender Bancpost, the most valuable bank asset put up for sale at the moment in Romania, according to market sources cited by local Ziarul Financiar.

Varde is also interested in acquiring Piraeus Bank in Romania.

The fund is competing with the second largest lender Banca Transilvania for Bancpost. Banca Transilvania will reach a market share of 16% if it manages to take over Bancpost, competing for the number one spot in the market with BCR.

Rothschild has been historically a consultant for Erste, which owns BCR. Rothschild was behind BCR’s takeover by Erste in 2005. This could be an indirect attempt of Erste to prevent Banca Transilvania from getting on the first place, according to Ziarul Financiar.

Eurobank to sell Romanian subsidiary Bancpost by year-end

editor@romania-insider.com