Intesa Sanpaolo SpA is in talks to buy Romania’s First Bank from its current owner JC Flowers & Co., Bloomberg reported, quoting anonymous sources with knowledge of the talks.
Private equity company JC Flowers bought the Romanian bank back in 2018, from Piraeus Bank, as Greek banks exited the Romanian market following the international economic crisis.
This was followed up by the purchase of Leumi Bank, which was integrated with the former Piraeus Bank Romania operations under the First Bank brand. The investor was also eyeing several other Romanian banks.
According to Bloomberg, the terms of the potential transaction currently being discussed could value the Romanian lender at around €200mn.
Moldova’s Maib bank, which plans to list its shares on the Bucharest Exchange (BVB), has reported an excellent third quarter, with net profit rising by 11% year on year to MDL1.1bn ... more
UniCredit announced on 4 November that it has acquired a 90.1% stake in Alpha Bank Romania from Alpha International Holdings SMSA, in a cash and equity transaction. The deal establishes ... more
UniCredit downgraded its 2024 growth forecast for Romania to 1.7% (from 2.4% in July), due to the poor performance in H1 and a slower-than-anticipated recovery in the EU, but it upgraded its 2025 ... more