The day of the €350 mln deal

Groupama International’s General Manager, Jean-Francois Lemoux, will be in Bucharest to sign the takeover deal.

The French group won an online tender against Dutch groups Aegon and Eureko, which had offered more than €300 million for the local company, the third-largest on the insurance market.

The signing protocol will begin around 11:00, when advisory teams will be invited in to work on the final technical details before the actual signing. Consultants are French Rothschild investment bank, Romanian law firm Tuca, Zbarcea & Asociatii, investment bank Raiffeisen Investment Romania and French law firm Gide Loyrette Nouel. A press conference is scheduled for 12:00 p.m.

The four banks each control some 25 percent, and stand to make some €87.5 million in one of the largest private sector deals.