Patria Bank completes sale of its asset management arm to BRD group
The transaction through which Patria Bank sold to BRD Asset Management the 99.9944% stake held in Patria Asset Management, the administrator of the largest ETF in Romania, has been completed after recently being approved by the ASF,…
iulian ernst · Journalist
· Updated · 1 min read
The transaction through which Patria Bank sold to BRD Asset Management the 99.9944% stake held in Patria Asset Management, the administrator of the largest ETF in Romania, has been completed after recently being approved by the ASF, according to Profit.ro.
The base price of the transaction is EUR 5.5 million and can be adjusted by deduction according to the contractual mechanisms.
"Receiving approval from the ASF allows us to integrate Patria Asset Management into the BRD Group. This transaction will accelerate the development of the BRD Asset Management business and reflects the BRD Group's ambition to offer clients access to an increasingly diversified range of high-performance investment solutions," said Maria Rousseva, CEO, BRD Groupe Société Générale.
Patria Asset Management is a subsidiary of Patria Bank, whose main activity is the management of investment funds.
(Photo source: PR)
