The National Bank of Romania (BNR) has approved the direct acquisition by Dan Ostahie, Altex founder and CEO (90.10%) and Real Estate SRL (9.89%) of a 100% stake in the share capital and voting rights of Porsche Bank Romania SA.

According to the agreement between Porsche Bank AG and Dan Ostahie, the seller undertakes to transfer the ownership of the bank’s shares and the buyer undertakes to take over the business on the basis of the balance sheet at the date of the transaction.

According to a press release from the buyer, sent to AGERPRES on Wednesday, the agreement does not provide for the transfer of the „Porsche Bank” trademark or the right to use it. The bank’s new trade name will be „Credex Bank.”

The transaction will be finalised by the end of July 2024, and the bank will remain operational both until then and after the takeover by the new shareholder, specifies the source.

AGERPRES