Bancpost Takes Over Eurobank with 315 Million Euro Deal

Bancpost has made a significant move in the banking industry with its takeover of Eurobank.

The deal was worth a whopping 315 million euros, a substantial investment that will undoubtedly impact the market.

This acquisition is a testament to Bancpost's growing influence and ambition in the financial sector.

As a result of the takeover, Bancpost will gain control of Eurobank's assets and operations, expanding its reach and capabilities.

Banca Transilvania acquired Bancpost from Eurobank Group in April 2018, paying EUR 315 million for the deal. This acquisition represents a strategic step forward in consolidating Banca Transilvania's position on the market.

The acquisition includes Bancpost, consumer loan provider ERB Retail Services, and leasing firm ERB Leasing. Banca Transilvania paid EUR 235 million to Eurobank for the stakes in these companies, representing between 63% and 77% of their net asset value.

Banca Transilvania has nominated Leontin Toderici, its Deputy General Manager – Chief Operations Officer, to coordinate the integration process, with the assistance of A.T. Kearney Management Consulting.

PeliFilip advised Banca Transilvania on its acquisition of Bancpost S.A. from Eurobank Group.

The acquisition of Bancpost represents a value accretive opportunity for Banca Transilvania that will be maximized through the integration of the two banks.

The PeliFilip team was led by Alina Birsan and Carmen Peli, with Partner Oana Badarau coordinating real estate-related aspects and Partner Catalin Suliman leading the Competition team.

Bancpost is the 9th largest bank in Romania, with a market share of 3% and total assets amounting to RON 11.6 billion (EUR 2.5 billion).

Banca Transilvania — the second largest bank in Romania — has a market share above 13% and total assets of RON 54.9 billion (EUR 11.9 billion).

The acquisition will complement BT’s organic growth strategy so that we may further strengthen and consolidate our market position.

Bancpost employs over 2,000 people through the network of approximately 150 units, serving more than 1 million clients.

The Schoenherr team was led by Partners Matei Florea and Madalina Neagu supported by twenty lawyers from the tax, competition, employment, capital markets, banking & finance, real estate, and corporate M&A practice groups.

The acquisition will be maximized through the integration of the two banks, with BT working on the integration roadmap with the support of BT and Bancpost teams.

Banca Transilvania will continue to pursue its objective of supporting the Romanian entrepreneurs and the local economy, with the aim of further boosting the value creation for BT’s shareholders, clients and employees.

The Schoenherr team was led by Partners Matei Florea and Madalina Neagu supported by twenty lawyers from the tax, competition, employment, capital markets, banking & finance, real estate, and corporate M&A practice groups.

The acquisition is expected to be completed once the required approvals from the NBR and the Competition Council are received.

Banca Transilvania, Romania's biggest bank, acquired Bancpost from Eurobank Group in April 2018 for EUR 315 million.

The acquisition price included EUR 235 million for Bancpost's stakes, as well as EUR 80 million to reimburse a subordinated loan.

Banca Transilvania paid prices that represented between 63% and 77% of Bancpost's net asset value.

A.T. Kearney Management Consulting will provide assistance with the integration process.

The integration of Bancpost into Banca Transilvania's Financial Group started after the acquisition, with the process of obtaining authorities' approvals following.

Banca Transilvania obtained the merger authorization from the National Bank of Romania in September 2018.

The last working day at Bancpost will be December 28th, 2018, and the first working day at Banca Transilvania will be January 3rd, 2019.

The integration of Bancpost into Banca Transilvania will be completed at the end of 2018.

Banca Transilvania's Chairman of the Board of Directors, Horia Ciorcila, expressed confidence in successfully finalizing the integration plan by December 2018.

Banca Transilvania will provide information to Bancpost customers about corresponding products and services from Banca Transilvania, as well as the Welcome to BT Offer.

The integration of Bancpost into Banca Transilvania's Financial Group started after the acquisition in April 2018.

Banca Transilvania obtained the merger authorization from the National Bank of Romania in September 2018.

The two banks, Banca Transilvania and Bancpost, will continue to have separate activity until the end of 2018.

The integration plan is ambitious, and Banca Transilvania is confident in its ability to finalize it by December 2018.

The last working day at Bancpost will be December 28th, 2018, and the first working day from the next year at Banca Transilvania will be January 3rd, 2019.

Banca Transilvana will provide information to Bancpost customers about corresponding products and services from Banca Transilvania, as well as the Welcome to BT Offer, in the upcoming period.

Bancpost has a rich history, and one of the most interesting facts about the bank is that Mihai Bogza was appointed as the new president of Bancpost in 2005.

Bancpost was previously owned by SIF1, which sold its stake in the bank in 2009.

Bancpost's financial situation in 2017 was quite stable, with the bank reporting a healthy financial situation at the end of the year.

In 2018, Bancpost's financial situation was still solid, with the bank's financial reports showing a strong performance.

Bancpost was acquired by Banca Transilvania in 2018, with the bank paying a total of 178 million euros for Bancpost and its affiliated companies.

Here's a list of some of the key facts about Bancpost's acquisition by Banca Transilvania:

Bancpost has undergone significant changes in recent years, but its legacy as a major bank in Romania remains.