EBRD Sells Interest In Romania's BRD For RON454.7M

The European Bank for Reconstruction and Development on Wednesday sold its stake in Romania's second-largest bank BRD-Groupe Societe Generale (BRD.RO) for 454.7 million lei (EUR1=RON4.2261), in several deals on the Bucharest stock exchange.

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The 38.84 million shares, or a 5% interest in the Romanian bank, were sold in eight transactions on the bourse's Deal market at RON13.05 per share, down 5.4% from Tuesday's closing price.

On the regular market, BRD stock closed at RON14, up 1.5% on the day.

EBRD has been a stockholder in BRD since 1999, the year when French group Societe Generale bought the majority stake in the bank from the Romanian state.

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