Bank Leumi Signs a Principle Agreement for the sale of Bank Leumi Romania S.A.
The decision is a continuation of the Bank’s strategy to focus on its core activity, while concentrating its international activity in the main financial centers through its subsidiaries in the United States and in England
Bank Leumi reported today that it has signed a principle agreement with the British investment fund 'Argo Capital Management Limited', for the sale of all the Bank’s holdings in Bank Leumi Romania S.A.
The decision to sell the Bank’s holdings of Leumi Romania is a continuation of the implementation of the Bank’s strategy to concentrate its international activity in the main financial centers through its subsidiaries in the United States ('Leumi USA') and in England ('Leumi UK').
As part of the agreement, both sides will work together in order to meet the financial needs of Leumi Romania's clients.
The completion of the transaction is subject to receipt of the required regulatory approvals in Romania and in Israel.