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Erste Group sets offer for rest of BCR
March 11, 2013 / 9:32 AM / 5 years ago

Erste Group sets offer for rest of BCR

VIENNA, March 11 (Reuters) - Austrian lender Erste Group Bank unveiled a permanent offer for the shares in Romanian unit BCR it does not already own, it said on Monday, with the price initially set at 0.75 Romanian leu ($0.22) per share.

“Unlike previous offers by Erste Group, the new offer is made for an undetermined period of time. It is launched with an initial price of RON 0.75 per share, again at a significant premium. The initial price is valid from March 8 through June 30 2013, and is subject to quarterly adjustments,” it said, adding minority shareholder SIF was not included in the offer.

Erste Group has 93.57 percent of BCR now after its last buy-out offer for minority shareholders last September and October.

$1 = 3.3553 Romanian leus Reporting by Michael Shields; Editing by Anthony Barker

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