SIFs may be after Demirbank Romania

After several big names on the international financial market were linked to Demirbank Romania acquisition, players from the domestic market seem to have entered this game as well.

According to authorised sources, the three financial investment companies (SIFs) – Muntenia, Transilvania and Banat-Crisana, which together hold a 17.34% stake in Demirbank Romania – would be willing to take over the main stake from Demirbank TAS Istanbul.

This is the last week when anybody interested to take over the Romanian-based business of the Turkish bank can run due-diligence operations regarding this bank, while the final bids may be submitted between August 20 and 24.

“The possibility that the three investment companies holding significant stakes in this bank should take over the whole Demirbank business in Romania from the Turkish state was formerly considered.

The price is the only question, as SIFs have been quite satisfied with this placement so far,” authorised sources told Ziarul Financiar.

According to preliminary estimates, Demirbank TAS Istanbul expects to get some 15 million dollars from the Romanian-based business. According to the current shareholding structure, SIF Muntenia holds 10%, SIF Transilvania owns 4.99%, while SIF Banat Crisana holds 2.35%.

Demirbank Romania management, which was contacted by Ziarul Financiar, declined to provide information on the current stage of negotiations, for confidentiality reasons.