UPDATE: Romanian SIF Moldova Sells BCR Stake To Erste

Shareholders of regional investment fund SIF Moldova (SIF2.RO) on Monday agreed to sell the fund’s 6% stake in lender BCR to Erste Group Bank (EBS.RO), the fund said in a statement Monday.

SIF Moldova confirmed earlier reports from market participants, who told Mediafax that the deal was approved with more than 90% of the votes.

In exchange for the 6% stake, the SIF stands to collect 123.6 million lei (EUR28.3 million) cash and around 1% of Erste stock. The conditions are the same as the ones agreed between Erste and the other four SIFs.