UniCredit Bank Austria AG announced to acquire the 45% interest in UniCredit Tiriac Bank S.A., thus increasing its equity stake from 50.6 to 95.6%.
Tiriac Holdings Ltd. is selling its 45% shareholding interest in UniCredit Tiriac Bank S.A. to UniCredit Bank Austria AG. The closing of the transaction is expected to take place around the end of June, beginning of July.
The parties to the agreement have concluded not to disclose the selling price or any other transaction details. UniCredit Bank Austria AG is considering making an offer to the remaining minority shareholders to purchase their shares.
UniCredit Tiriac Bank S.A., a Romanian bank headquartered in Bucharest, is a member of UniCredit’s CEE network. Around 3,350 employees are servicing retail and corporate customers in over 180 branches in Romania.