"AnaCap" once again in talks over acquiring Banca Comercială Carpatica (BCC)

• Shares of BCC have risen 32% in the last few days

British Investment Fund "AnaCap" has asked to meet with the Romanian National Bank (BNR) to talk about the acquisition of Banca Comercială Carpatica (symbol:BCC), meeting which should take place soon, according to our sources.

By the closing of the edition, neither Banca Comercială Carpatica, nor "AnaCap" had answered the enquiries of "BURSA" on the subject.

BCC has once again come to the attention of "AnaCap", after, in 2011 there were rumors about a possible sale of the bank to the fund, rumors which were however denied by the owner of the bank Ilie Carabulea.

The information about the negotiations have also reached the stock market, sparking investors' interest in the shares of the bank, which have risen sharply in the last few days on the Bucharest Stock Exchange (BVB), by about 32%, with over 13 million shares being traded.

Initially, the market rumors have indicated that the shares of BCCR have risen due to the news that Robert Rekkers, former CEO of Banca Transilvania and currently a non-executive member on the Board of Directors of "Agricover", could take over the position of CEO of BCC, but apparently that was mere speculation, according to several banking sources.

Apparently, the possible entry of "AnaCap" would have the support of the NBR.

"AnaCap" is a private equity fund specializing on investments in the European financial sector, according to information from the website of the Fund. Set up in 2005 in London, "AnaCap" advises investors with assets of 1.7 billion Euros, including "Goldman Sachs", "Allianz", "Honeywell" and "Adams Street" and invests alongside them.

In June 2011, "AnaCap" received the approval of the Central Bank of Czech Republic to acquire Banco Popolare Ces-ka Republica, which was rebranded Equa Bank.

Another acquisition made by "AnaCap", in 2011, was "Cabot Financial" of Great Britain, from giant Citi, which led to it owning one of the biggest debt collection platforms in the UK.h

The head of the mergers and acquisitions department of "AnaCap" is Fabrizio Cesario, who previously worked for "Lehman Brothers" and "Rothschild" Italy.

Another investment fund, "PineBridge Investments", signed, in April 2012, an agreement for the sale of MKB Romexterra Bank (currently Nextebank), the Romanian branch of the Hungarian group, with the takeover being subject to the approval of the NBR.

PineBridge Investments" has not yet received the approval of the NBR, because is not supervised in Europe.

In the first nine months of 2012, Banca Comercială Carpatica has seen a net profit of 12 million lei (2.7 million Euros), and its total assets have increased 11.24%, to 4.305 billion lei.

BCC is controlled by businessman Ilie Carabulea, who owns 41.29% of the shares of BCC.

In December last year, the Ordinary General Shareholder Meeting (AGOA) of the bank has approved the dismissal of Ilie Carabulea, from the position of member of the Supervisory Board of the bank, following his resignation of April 26th.

Ilie Carabulea left the management of the bank after he was sentenced to serve a year and a half in prison, by the Romanian High Court of Cassation and Justice (ICCJ), in the "Apostu" case, through a final ruling. The businessman was released on parole, on October 2012, after the Court of Alba denied the appeal submitted by the prosecutors of the National Anti-Corruption Department (DNA), against the decision of the Aiud Court, which had admitted his request for parole.