BVB shareholders approve merger with SIBEX

In another step towards the consolidation of the Romanian capital market, BVB shareholders approved in principle the merger with SIBEX                                                                

The Extraordinary General Meeting of the Shareholders of Bucharest Stock Exchange (BVB) approved in principle the merger with SIBEX-Sibiu Stock Exchange (SIBEX), with the majority of the votes held by present and represented shareholders.

BVB’s Board of Governors has been empowered to take all measures and perform all administrative, economic, financial or legal operations deemed necessary or appropriate by the Board in order to implement this decision and to continue the endeavours regarding the project of the merger by absorption of SIBEX. BVB’s Board of Governors has also been entitled to engage consultants to conduct the process of due diligence on the activities of the companies involved in the merger.

So far BVB has not yet provided any timeline to complete the merger or the date of the financial statements that will be used to determine the conditions of the potential merger.