Bucharest - 20 noiembrie 2014
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On April 30, 2014 Emerging Europe Accession Fund (EEAF) has closed the acquisition of the majority participation, of over 98%, held by MKB Bank Zrt Hungary in Nextebank Romania. When we finalized the acquisition we have communicated our intention to further develop Nextebank into a successful and profitable bank, with an innovative business model. We continue to see two strategic directions of development of the bank, one of organic growth and another by capitalizing on opportunities to acquire portfolios of performing loans, lines of business of financial institutions or even merging with / acquisitions of other financial institutions. Nextebank has excellent resources, high liquidity and solvency, but also a diversified banking platform, dedicated and experienced staff, which all represents a solid foundation for our growth strategy.
Thus, since the beginning of the year, the management of Nextebank has identified the opportunity of a merger with Banca Comerciala Carpatica and explored together with the management of this bank a potential transaction. Nextebank considered such a transaction attractive especially because of the benefits that would result for both financial institutions, leading to a new solid merged bank with a size exceeding EUR 1 billion in total assets. In this respect, Nextebank has recently sent to Banca Comerciala Carpatica a binding offer for a merger, comprising terms and conditions applicable to the process and the management of the Banca Comerciala Carpatica decided to submit the project for approval of the General Shareholders Meeting. As Banca Comerciala Carpatica announced, this approval requested by the management of Banca Comerciala Carpatica is a preliminary step of a potential merger initiated by the management of both banks, not mandatory according to the legislation in force.
Nextebank looks forward to the preliminary decision of the shareholders of Banca Comerciala Carpatica, in order to continue the actions to achieve the merger project between Nextebank and Banca Comerciala Carpatica, project that will be implemented only after obtaining the final approvals from the shareholders of both banks, from the Romanian National Bank and from the Competition Council.
EEAF, the successor of the investment fund Balkan Accession Fund (BAF) is the third private equity fund managed by Axxess Capital and has mainly institutional investors: European Bank for Reconstruction and Development ("EBRD"), the European Investment Fund ("EIF"), Deutsche Investitions- und Entwicklungsgesellschaft mbH (" DEG ") and Black Sea Trade and Development Bank ("BSTDB").
Axxess Capital is an independent investment manager with the investment activity focused exclusively on South Eastern Europe region. Its investment history started more than 15 years ago with the Romanian American Enterprise Fund, continued with BAF and EEAF and includes over 35 transactions closed to date out of which 11 transactions are in the financial services sector, of which 8 in Romania.
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Cuvinte cheie:
EEAF closed acquisition majority participation Nextebank