Ovidiu Tender has got his mind set on Libra Bank

The Tender group, owned by businessman Ovidiu Tender, has submitted a bid to acquire Libra Bank, with the final documents already filed with the National Bank of Romania, which is expected to authorise the transaction.
Tender is negotiating the acquisition of the main stake with the bank’s owners, a group of 19 Turkish and Cypriot businesspersons, each holding less than five percent in Libra Bank.
“Negotiations are almost complete. It was about time we included a bank in our portfolio,” Ovidiu Tender told Ziarul Financiar. The businessman would not comment on the amount to be paid. “This is confidential information,” Tender said.
According to banking sources, the transaction’s value may range between 8-10 million dollars. Tender says the money will come from the company’s own funds. The group was expected to attain turnover worth 200 million dollars last year, up from the 100 million dollars posted in 2001, according to the businessman’s estimates.
Libra Bank has been for sale for more than two years, but negotiations fell through several times at the last minute. Many financial or non-financial groups had voiced interest in Libra Bank, with serious negotiations having been carried with Italian clothes company IMM Innovazione Moda Maglieria and with a group of Belgian investors backed by a significant financial group.
Libra was supposed to solve its shareholding problems last year, as it had been closely watched by the National Bank for several months. The central bank has repeatedly warned the management of Libra Bank on this problem, namely the residence of shareholders. Some of Libra Bank shareholders are residing in Northern Cyprus, an area which is not authorised by the National Bank.
Libra Bank officials could not be contacted for comments by press time.
Libra Bank was established in 1996, with Viorel Catarama and the former Defence minister Victor Babiuc among the founding members.
The bank has been owned by a group of natural persons (Turkish and Cypriot residents) since April 2000. According to the latest available financial data, Libra Bank posted gross profit of 15.5 billion ROL (almost 500,000 dollars) in 2001. Total assets amounted to 574 billion ROL, while the bank held 0.2% market share. Libra Bank has five subsidiaries.