OTP Puts Romanian Subsidiary up for Sale
Tupungato/Shutterstock.com
Hungarian lender OTP Bank has officially confirmed, through an announcement made to the bank's directors, that OTP Bank Romania is being put up for sale, a process that could take several months.
If the auction is successfully concluded, the transaction will close in a year, sources on the banking market told Romanian financial newspaper Ziarul Financiar, as quoted by romania-insider.com.
The motivation for the bank's sale was "the lack of growth potential through acquisitions on the Romanian market."
OTP Bank Romania is valued at EUR 300 million-400 mln, to which would be added the repayment of the financing lines to Budapest.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
