Eight banks are competing for CEC: Banca Monte dei Paschi di Siena S.p.A.; EFG Eurobank; National Bank of Greece; OTP Bank, Raiffeisen Zentralbank Oesterreich Aktiengesellschaft in consortium with Raiffeisen International Bank, Holding A.G; Societe Generale; Dexia and Erste Bank.
After the offers are deposited the banks will have the possibility of evaluating CEC’s financial situation once more, with the final offers being presented between 18 and 20 November.
Banking sources stated that price will represent between 70% and 90% of the points given in the investor’s selection process.
CEC closed the first nine months of the year with a net profit of 870,000 euros.
The privatization of the Romanian Commercial Bank (BCR) in also progressing, and on Thursday, the offers made by the seven interested banks will be opened, prior to being analyzed, according to a statement by the Authority for the Recovery of State Assets (AVAS).
The documents deposited by Dexia, Erste Bank, BNP Paribas, Banco Comercial Portugues, Deutsche Bank, the National Bank of Greece and Intesa Bank will be opened at the AVAS headquarters, in the presence of the financial institutions’ representatives.
The commission will analyze the offers and will communicate to the banks the minimum conditions that must be fulfilled. The commission will then announce the first two banks which comply with the privatization requests and these will be invited for a series of negotiations. The main criterion to designate the winner will be the price.
