October 2, 2018 / 9:22 AM / in 2 months

EBRD-led consortium buys stake in Moldova's largest bank

CHISINAU, Oct 2 (Reuters) - A consortium led by the European Bank for Reconstruction and Development on Tuesday bought a 41 percent stake in Moldova’s largest bank, aiming to bring more transparency to a financial system recovering from a $1 billion fraud.

The EBRD and two private equity firms bought shares in Moldova Agroindbank, which has a market share of 30 percent and whose stock had been frozen by regulators and put up for auction to strategic investors. (Reporting by Alexander Tanas; editing by Matthias Williams; editing by Louise Heavens)

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