Balli Kloeckner buys 15% in RoBank

Balli Kloeckner, a German arm of the Balli Group could buy the 15% held by Societatea de Asigurari Anglo-Romana (Anglo-Romanian insurance company) in RoBank, with the necessary papers to be submitted to the National Bank of Romania in view of endorsement soon. The deal, which is actually the insurer’s exit from the bank, is nothing more than a swap of shares between two entities held by Balli, as the group is also Anglo-Romana’s majority shareholder. The sale of the stake in RoBank became necessary after the Insurance Supervision Commission withdrew the operating licence of the now insolvent insurer last year. ZF