OTP agrees to acquire SocGen unit in Moldova
OTP Bank said Wednesday it has agreed to acquire an 87.85% stake in MobiasBanca, the Moldovan unit of Franceʼs Société Générale Group. The transaction is set to close "in the coming months" subject to regulatory approval, OTP was cited as saying by state news wire MTI.
MobiasBanca is the fourth biggest bank in Moldova, with a 13.3% market share.
OTP also said it signed a cooperation agreement with Société Générale Group to support the service of international companies in such key areas as international cash management and capital markets services, structured finance and investment banking services.
OTP recently closed the acquisition of SocGenʼs Bulgarian unit, having also sealed deals last year to acquire the French lenderʼs subsidiaries in Serbia and Albania.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
