EBRD sells 1.7% stake in Banca Transilvania for EUR 82 mln
<p>The European Bank for Reconstruction and Development (EBRD) sold a 1.7% stake in Banca Transilvania (BVB: TLV), Romania's biggest lender, for RON 411 mln (EUR 82.5 mln).&nbsp;</p>

<p>After this transaction, the EBRD still holds a 5.2% stake in the Romanian group.&nbsp;</p>

<p>"By reducing its stake, the EBRD is helping to increase the liquidity of Banca Transilvania shares on the Bucharest Stock Exchange. As a continuing shareholder, the EBRD remains confident of Banca Transilvania's future prospects and will continue to support Banca Transilvania's future development," the EBRD said in a statement.&nbsp;</p>

<p>The share sale was carried out through an accelerated book build (ABB) transaction on the Bucharest Stock Exchange, which was managed by Citigroup, Wood &amp; Company, and Auerbach Grayson &amp; Company.&nbsp;</p>

<p>EBRD has been a shareholder of Banca Transilvania since 2001 when it acquired a 15% stake to strengthen its capital base and support the expansion of its activities and loan portfolio. Since then, Banca Transilvania has turned from a regional bank into the biggest financial group in Romania, with a market capitalization of EUR 5.2 bln.</p>

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

<p><em>(Photo source: Banca Transilvania)</em></p>