Bulgarian investment group Doverie United Holding has announced the settlement of a deal to acquire a two-thirds majority interest in Moldova’s Moldindconbank.
Doverie-Invest, a unit of the holding responsible for the takeover, said that it was now drawing up plans to modernise Moldindconbank and strengthen its market position.
On March 18, the Moldovan Public Property Agency announced that Doverie-Invest won a public call for proposals to acquire a 63.8 per cent stake in the company for 764 million leva (57.6 million US dollars). In 2018, the bank’s assets were estimated at 963 million US dollars.
The bank will be the third major financial institution to be sold in Moldova following a money-laundering scandal in 2014 when more than one billion US dollars disappeared from three of the country’s banks.
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