The 10 months competitive capital raising and sale process has been successfully finalized with the sale of 100% shares to Getin Holding which will capitalize the bank.

The Romanian International Bank (RIB) shareholders, Daniel and Florina Roberts, after a long process of selection, decided to sell the assets of their financial institution to the Polish Group Getin Holding a well-known investor in the European banking sector.

RIB shareholders were financially advised exclusively by Ovidiu Chiorean, Crosspoint Investment Banking, Managing Partner and Codrin Matei, Partner Investment Banking. The law firm Wolf Theiss and Associates SCA has ensured the legal advisory for this transaction with: Bryan Jardine (Managing Partner), Ancuta Leach (Partner) and Fabiola Meister (Senior Associate).

The process of finding investors started in February 2013, when Crosspoint was selected by the owners of RIB to search and identify potential buyers for the Romanian bank.
Ovidiu Chiorean, Managing Partner Crosspoint said: “The banking crisis in Cyprus which started in this year’s spring delayed the investors’ response and affected the value of the offers. For many big investors the acquisition of RIB was considered a small transaction”.

After the NBR (National Bank of Romania) approval for this transaction on the 4th of December 2013, Getin Holding S.A. closed the deal to buy 100% in Romanian International Bank. As of Q2 2013, the Bank’s assets totaled RON 436.4 million, approximately 100 million euros.