Volksbank Romania S. A. sold to Banca Transilvania
Official approval on March 17 - Closing today
Vienna/Bucharest - The sale of Volksbank Romania S. A. (VBRO) is sealed with today. After the signing of the contracts with the Romanian Banka Transilvania on December 10, 2014 the closing in Bucharest took place today. On 17 March, the National Bank of Romania and the Competition Authority approved the transaction.
VBAG was involved in VBRO with 51%, Groupe BPCE held 24.5%, DZ BANK AG 16.36% and WGZ BANK 8.14%.
According to the rules of VBAG’s restructuring plan, which provides, inter alia, the sale of investments, the sale of VBRO had to be completed until 31 December 2015. VBAG CEO Stephan Koren: "We implement the requirements of the European Commission quickly and consistently. With the sale of VBRO another big part of the successful wind down process and the restructuring of VBAG could be achieved."
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