Raiffeisen Bank Nears $640 Million Deal for BBVA Unit
Raiffeisen Bank is reportedly close to buying BBVA's Romanian Garanti unit for about 550 million euros. The deal was reported by Bloomberg News on Tuesday.
Raiffeisen Bank International AG is reportedly nearing an agreement to acquire the Romanian operations of Banco Bilbao Vizcaya Argentaria, S.A.. The deal, valued at approximately 550 million euros ($640.97 million), involves the Garanti unit located in Romania. According to reports from Bloomberg News on Tuesday, the financial group headquartered in Austria is in the final stages of the transaction. While the acquisition would represent a significant shift in the regional banking market, both Raiffeisen Bank International AG and Banco Bilbao Vizcaya Argentaria, S.A. have declined to comment on the matter. The transaction remains subject to verification as the banks have not yet released official statements.