Eurobank Group

Eurobank Group

VIRTUAL DATA ROOM

€301M TRANSACTION

12 MONTHS TURNAROUND

Imprima Virtual Data Room supported Eurobank Group on €301m sale of its Romanian subsidiaries Bancpost SA, ERB Retail Services and ERB Leasing to Banca Transilvania.

THE PROJECT

  • Eurobank Group has agreed to acquire ERB Retail Services IFN S.A., ERB Leasing IFN S.A., and a 93.78% stake in Banca Transilvania S.C. Bancpost S.A. from Eurobank Ergasias SA.
  • With the completion of the current transaction, Eurobank fulfilled well ahead of time its commitment towards the European Commission for the reduction of its foreign footprint.

THE CHALLENGES

  • The cross-border deal aimed at facilitating a timely reduction of Eurobank’s foreign footprint, required uploading and reviewing over 500,000 pages of data and took over 12 months to complete.
  • 100+ members of the various due diligence teams needed time-critical access to the Imprima VDR, alongside timely help and support from Imprima project management team.
  • The data needed to be reviewed by multiple bidders, all of whom needed quick and easy access to relevant data within a secure and easy-to-navigate environment.
  • Complex permissioning architecture and advanced Q&A structure needed to fit the custom deal requirements.

HOW IMPRIMA VDR SUPPORTED THE CLIENT

  • Given the size, security concerns and scale of its requirements, Eurobank considered all the leading virtual data room providers before choosing Imprima VDR, based on its flexibility, security, and unmatched local project management capability.
  • Using its advanced software, Imprima VDR unique Permissioning System enabled Eurobank’s deal managers to quickly create and effectively manage access rights for all active bidders.
  • Throughout the whole 12-month project, Imprima’s 24/7 support teams worked tirelessly alongside our client and advisor teams from Barclays, HSBC, Mediobanca and Deloitte to facilitate the transaction as expediently and efficiently as possible.
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