OTP Bank, the biggest Hungarian financial group is in advancedtalks with Sibiu-based businessman Ilie Carabulea to buy thecontrolling interests in Carpatica, one of the few banksprivately-held by Romanian shareholders, sources on the financialmarket say.
"OTP group bosses met with Ilie Carabulea and his advisors and madehim an offer for a stake of 70% in the bank," the quoted sourcessay.
Carabulea is the biggest individual shareholder of Carpatica, as heowns 36.4% in it. Alin Albu owns 10%, while the remaining 53% aredivided among smaller shareholders, according to the latest datapublished by the Central Depository. Atlassib, a company controlledby Carabulea, for instance, owns 4% in the bank.
When contacted by ZF for comment, Ilie Carabulea answered that theinformation about the talks with OTP was "an alarmist rumour". OTPBank officials did not provide any comment.
Carpatica is listed on the Bucharest Stock Exchange, (BCC stocksymbol), having last traded at 0.1010 RON/share, which puts themarket value of the bank at 230.3 million RON (55.7 million euros).The quoted sources say the Hungarians' offer values the bank closeto its market capitalisation.
The talks between the Hungarians and Carabulea took several monthsduring which OTP even conducted the due diligence at the bank.
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