As first reported by Bloomberg, Intesa Sanpaolo SpA is reportedly in talks to acquire Romania’s First Bank from JC Flowers & Co.
The private equity firm bought the bank from Piraeus Bank in 2018, as Greek banks were leaving the Romanian market after the global economic crisis.
JC Flowers also acquired Leumi Bank, which was merged with the former Piraeus Bank Romania operations and rebranded as First Bank.
The investor was also said to be interested in other Romanian banks. The terms of the potential transaction are currently being discussed and could value the Romanian lender at around €200mn.
