BBVA is close to selling its Garanti unit in Romania to Raiffeisen Bank International in a deal valued at about 550 euros ($640 million), Bloomberg reported, citing unnamed people familiar with the matter.
Raiffeisen has offered roughly 1.2 times the unit's book value based on last year's balance sheet data, the sources told the publication.
The talks are at an advanced stage but could still face delays or fail to conclude, the report said.
BBVA did not immediately respond to MT Newswires' request for comment
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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