PwC assisted Banco Comercial Português in selling its Romanian branch - Millennium Bank

Bucharest, 31 July 2014 – PwC was lead financial advisor for Banco Commercial Português (BCP) in selling its Romanian branch - Millennium Bank - to OTP Bank.
 
“It was a complex project, in which financial consultants from PwC Romania cooperated closely with colleagues from PwC Portugal. This transaction marks an important step in the consolidation of the Romanian banking market, on the background of increased activity on the local M&A market, with a particular focus on the financial sector”, stated Vasile Iuga, Country Managing Partner, PwC Romania.
 
“We are pleased to have succeeded in ensuring a competitive process by attracting several types of potential investors: banks already present on the local market, banks interested in entering the Romanian market, investment funds, and investors not yet involved in the financial sector. This was a technically innovative process, which began with a vendor due-diligence report that lead to a swift and efficient transaction”, added Alexandru Medelean, Director, Deals, PwC Romania, the project manager of the deal in Romania.
 
The Romanian project team included Vasile Iuga, Country Managing Partner, PwC Romania and Managing Partner, PwC South-Eastern Europe (SEE), Bojidar Neitchev, Advisory Services Leader, PwC SEE, Alexandru Medelean, Director within the Deals department of PwC Romania, Florin Cerna, Manager, and Gabriela Pieleanu, Assistant Manager.
 
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