Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Banking Services
Retail Banking
Return to: BBR Home | Banking Services | Retail Banking

J.C. Flowers completes acquisition of Piraeus Bank Romania

Published 03 July 2018

US private equity investment firm J.C. Flowers & Co. has completed a previously announced acquisition of Piraeus Bank Romania from Greece-based Piraeus Bank following the receipt of necessary approvals from the National Bank of Romania.

Piraeus Bank Group CEO Christos Megalou said: “We welcome this new era for Piraeus Bank Romania. We are convinced that such an experienced firm as J.C. Flowers has all the necessary resources to contribute to the development of Piraeus Bank in Romania, for the ultimate benefit of its clients and employees.”

J.C. Flowers CEO Christopher Flowers said: “Piraeus Bank Romania has a solid business and a strong team, acquired from one of the most prominent banking groups in Europe.

“Together with Piraeus Bank Romania, we will join forces to create an active player for the Romanian banking market with improved products for the Bank’s clients.”

Piraeus Bank Romania is excited to start a new journey with J.C. Flowers. The Bank will continue to operate across all customer segments and will build upon its local footprint to become a prominent independent Romanian bank.

UBS Limited acted as exclusive financial advisor to Piraeus Bank on the transaction.

Source: Company Press Release