Altex owner to acquire Porsche Bank Romania after BNR approval
<p>The National Bank of Romania (BNR) approved the acquisition of Porsche Bank Romania SA by businessman Dan Ostahie, the owner of IT&amp;C retailer Altex, the company announced.</p>

<p>BNR approved the direct acquisition by Dan Ostahie (90.10%) and Real Estate Srl (9.89%) of 100% of the social capital and voting rights of Porsche Bank Romania.</p>

<p>The agreement doesn’t cover the transfer or use of the brand Porsche Bank. The bank’s new name will be Credex Bank.</p>

<p>The transaction is to be completed by the end of July of this year, and the bank will remain operational throughout and after being taken over by the new shareholder.</p>

<p>The Competition Council <a href="https://www.romania-insider.com/ostahie-porsche-finance-license-jun-2022" rel="noopener" target="_blank">approved the transaction in June 2022</a>.</p>

<p>Ostahie controls the IT and appliances retailer Altex, which has a network of some 130 stores across the country. The group also includes the non-bank financial institution Credex.</p>

<p><em>(Photo:&nbsp;<a href="https://www.dreamstime.com/vitezslavvylicil_info">Vitezslav Vylicil</a>&nbsp;|&nbsp;<a href="https://www.dreamstime.com/photos-images/acquisition.html">Dreamstime.com</a>)</em></p>

<p><em>simona@romania-insider.com</em></p>