[ad_1]
The French Giant Credit Agricultural, reached an agreement with the Vardinogiannis group for the sale Credit Agricol Bank Romania.
The famous Vardinogiannis family owns Vista Bank, the former Marfim Bank, in Romania.
In the fight for Credit Agricole Romania also joined the American investment fund JC FLowers.
Credit Agricole worked for this transaction with investment bankers from UniCredit Bank and the law firm Clifford Chance.
The transaction is subject to the approval of NBR.
With this acquisition, Vista Bank is trying to consolidate its position in the Romanian market.
Upon completion of the acquisition, Vista Bank will hold total assets of more than € 1.2 billion, loans of € 750 million, deposits of € 1.1 billion and more than € 105 million of CET1 capital.
“The acquisition of Crédit Agricole Romania is an important moment for Vista Bank and is in line with our strategy of continuing to grow and strengthen our position in the market. We focus on supporting the Romanian economy, generating value for all stakeholders, customers, employees, shareholders. We would like to thank the representatives of Credit Agricole for their cooperation and professionalism in this transaction. ”said Stavros Lekkakos, Chairman of the Board of Directors of Vista Bank.
Vista Bank’s consultants were PwC and David & Baias Law Firm on the financial and legal side, and Deloitte provided financial advice on certain issues.
Vista Bank has existed in Romania for 22 years and has a network of 31 branches with 320 employees.
[ad_2]
