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Advised by Bulboacă & Asociaţii law firm, EximBank acquires Banca Românească

Bulboacă & Asociaţii law firm assisted Banca de Export Import a României EximBank S.A. (The Export-Import Bank of Romania – EximBank S.A.) in the acquisition of the share package held by the National Bank of Greece Group within Banca Românească S.A. (Romanian Bank S.A.). As a result of the transaction, EximBank becomes the major shareholder of Banca Românească, holding 99.28% of its share capital.

Bulboacă & Asociaţii team provided legal assistance during all stages of the acquisition process, from assistance in the preliminary and final stages of the bidding process and conductiong a legal due diligence on Banca Românească S.A.,  to assistance  in negotiating and signing transaction documents from the perspective of the implications on Romanian law. Throughout the acquisition process, Bulboacă & Asociaţii lawyers have worked together with Linklaters attorneys for the share purchase agreement and other ancillary transaction documents, as Linklaters provided advice on UK law.

The completion of the transaction is conditioned by obtaining the necessary approvals from the National Bank of Romania and the Competition Council.

EximBank is a bank majority owned by the Ministry of Finance (95%), acting both as a commercial bank and as a state agent, by distributing the funds allocated from the state budget in the Romanian business environment. Banca Românească is a universal commercial bank that currently operates a national network of approximately 100 branches and provides a wide range of products and services to both individuals and companies. The National Bank of Greece Group is the oldest and largest financial group in Greece, holding the majority stake in Banca Românească since 2003.