US EditionGaranti Bank BBVA Agrees to Sell Romanian Unit to Austria's Raiffeisen for 591 Mln Euros
7 Articles
7 Articles
BBVA leaves Romania after having reached an agreement with the Austrian Raiffeisen Bank. The Spanish group, which had been in an open divestment process for months, has agreed to sell 100% of the capital for 591 million euros. This division depended on the Turkish franchise Garanti. BBVA’s subsidiary is the tenth Romanian financial institution by volume of assets, with a share of approximately 2% and total assets of 4 billion euros at the close …
Criticised for maintaining its activities in Russia after the invasion of Ukraine, the Austrian bank is gaining a new anchor outside its domestic borders, which is why it is on the banking podium in Romania.
Garanti BBVA has agreed to sell its entire business in Romania to the Austrian bank Raiffeisen Bank for EUR 591 million (about USD 680 million), as reported by the Turkish entity.In a statement sent to the Turkish Public Information Platform on 28 March, Garanti BBVA indicated that its board of directors approved the share purchase agreement, authorizing its Dutch subsidiaries Garanti Holding B.V. and G Netherlands B.V. to sell all its shares in…
Garanti BBVA agrees to sell its Romanian unit to Raiffeisen Bank
Garanti BBVA has reached an agreement with Raiffeisen Bank S.A. – the Romanian unit of the Austrian bank Raiffeisen Bank International AG’s (RBI). The post Garanti BBVA agrees to sell its Romanian unit to Raiffeisen Bank appeared first on FX News Group.
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