Intesa in talks to buy Romania’s First Bank from JC Flowers. Deal could value First Bank at about €200 million – Bloomberg.
Intesa Sanpaolo SpA is in talks to buy Romania’s First Bank from its private equity owner, JC Flowers & Co., people with knowledge of the matter said, according to Bloomberg.
The Italian lender is discussing terms of a transaction that could value First Bank at about €200 million ($216 million), according to the people, who asked not to be identified discussing confidential information.
Intesa Sanpaolo SpA, the largest bank in Italy, has a subsidiary in Romania, which has assets of approximately 1.5 billion euros and over 60,000 customers.
In January, Bloomberg announced that JC Flowers wanted to sell First Bank and had preliminary discussions with UniCredit SpA but no agreement was reached. Separately, in July UniCredit decided not to continue negotiations and reoriented itself to acquire the Romanian subsidiary of OTP Bank Nyrt.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
