Market Chatter: BBVA Said to Near 550 Million Euros Sale of Romania's Garanti Unit to Raiffeisen Bank International

MT Newswires Live03-10

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

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