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EBRD sells its holding in BRD-Groupe Soeciete Generale SA

The European Bank for Reconstruction and Development (EBRD) has sold 34,845,050 shares, representing its entire holding, in BRD - Groupe Société Générale, a leading bank in Romania which is listed on the Bucharest Stock Exchange (BVB), EBRD reports in a press release submitted to the BVB. KBC Securities N.V and KBC Securities Romania acted as brokers.

The EBRD became a shareholder of BRD - Groupe Société Générale in November 1999 with a holding of just below 5 percent in the bank.

This represented part of an effort to provide institutional strength to the recently privatised bank and to help promote its growth alongside Société Générale, who in March 1999, had purchased a controlling stake of 51 percent in BRD - Groupe Société Générale. BRD - Groupe Société Générale was subsequently listed on the first tier of the Bucharest Stock Exchange on 15 January 2001.

Nick Tesseyman, Managing Director, Financial Institutions, said 'our exit from BRD - Groupe Société Générale comes as Romania's attractiveness to institutional investors has grown. We are proud to have contributed to making BRD - Groupe Société Générale the successful, strong and attractive financial institution it is today. We remain committed to cooperating with BRD - Groupe Société Générale in Romania and across our business areas and to maintaining our strong relationship with the bank.'

Financial services and investment company Prime Transaction SA says the 34.84 million BRD Groupe Societe Generale (BRD) shares worth RON 454.7 million were transferred on Wednesday, 16:01hrs, local, in eight deal trades. Similar special trades were also conducted late last year in which significant BRD share packages were transferred. Since August 2010, 6.7 percent of the BRD shares have been traded, Prime Transaction SA reports.

The company says the Wednesday's trades could mean a continuation in the SIF financial investment companies pulling out their holdings from BRD-SocGen. Only SIF5 Oltenia is holding a number of BRD shares that is higher than the number of shares transferred in these deal trades.

Prime Transaction SA was established in 1997. It is a member of the Association of Romanian Brokers and a shareholder in Romania's two stock exchanges - BVB and Sibex.

Owned by 61 countries and two intergovernmental institutions - the European Union and the European Investment Bank (EIB) - EBRD invests in 29 countries, from Central Europe to Central Asia.

Sursa: http://www.agerpres.ro

Tags: eacute brd groupe shares holding sif bvb

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