The combined bank, in which Eurobank holds 70%, with a strong capital and liquidity position and a market share of 6.5% in customer loans, becomes the seventh largest in Serbia.

The consideration has been agreed at €55 million representing a 0.74x P/BV multiple.

Sources familiar with the ongoing negotiations cited by local news agency unveil that the deal would be Romania's largest upon completion.

Bids may be submitted by December 13.

The project was supposed to be built on part of the land of the former Grivita factory.

The European Investment Bank had expressed its sceptisism with regards to this project.

Toplifikacija is in bankruptcy proceedings since 2018.

Petrescu controlled large areas of land in northern Bucharest, but also in the country.