$12m for Libra Bank

American investment fund Broadhurst will indirectly increase the capital of Libra Bank, which it bought this summer. The $1m capital increase will take place in the near future. The capital increase is in fact the final step in the acquisition process and is necessary so as to attain the standards imposed by the National Bank of Romania (NBR), in order to start developing the bank and meet previous commitments, sources close to the transaction say. Cristian Siminel Andrei, director of the American fund, was not available for comment. Broadhurst bought 97% in Libra Bank under a $11m deal, through several Romanian companies where it holds the main stake. ZF