OTP Bank has reportedly agreed on the terms for the sale of its Romanian subsidiary to Banca Transilvania, a deal expected to be officially announced in early January after the boards of the banks endorse it, according to sources familiar with the deal consulted by Ziarul Financiar.
OTP Bank Romania would be the fourth bank taken over by Banca Transilvania in less than a decade, after it bought Volksbank Romania, Bancpost and Idea Bank.
The value of the deal will be announced in January. It will be formed by the price paid for the capital of OTP Bank and the value of the debt owed by the Romanian subsidiary to the parent financial group.
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