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Romania : 4 investors interested in becoming shareholders in the ROMANIAN bank BANCA CARPATICA

July 25, 2014

4 investors are interested to become shareholders in Romanian bank Banca Carpatica. They were granted access to the data room and in the following period will discuss with the bank s management on the transaction.

The interested investors are local banks, but also international investment funds, including a large fund from the US.

The bank s executive president, Johan Gabriels, mandated by the bank s shareholders, to find a solution to capitalize the bank, either through a merger with another local bank or through share capital increase.

Banca Carpatica s founder and shareholder Ilie Carabulea opposed the plan wanted to change the bank s management. He didn t carry out his plan as his voting rights at the meeting of Carpatica was revoked by Romania s National Bank (BNR). This came after he was arrested in a corruption case involving insurance company, Carpatica Asig.

The BNR considered that Carabulea, holds 45% of the bank s shares, doesn t fulfill the good reputation criteria to majority shareholder of the bank.

The BNR asked Banca Carpatica s management to find other sources of financing for the bank.

Banca Carpatica has a market capitalization of EUR 45 million. The bank had assets of EUR 915 million, and a market share of more than 1% of the total assets of the local banking sector.

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Source: TendersInfo (India)

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