Banca Transilvania published an intention to acquire Microinvest, the leader of the non-banking financing market in the Republic of Moldova.
Earlier today, Banca Transilvania published an announcement on the Bucharest Stock Exchange stating that they intend to acquire 100% of the share capital of Microinvest, a company specialized on the financing of small businesses. Microinvest is the leader of the non-banking financing market in the Republic of Moldova and has built over time a solid position on the microfinancing market and positioned itself as a strong brand. The non-banking financial institution has more than 25,000 clients, almost 200 employees, 13 branches and granted so far over 30,000 loans. Banca Transilvania adds that another strength of Microinvest is its professional management team, with experience and expertise in banking and microfinancing.
Note that Banca Transilvania is currently in the process of request of approval of the acquisition from the banking regulators of Romania as well as other relevant authorities.