French Insurer Groupama Buys Romanian Peer Asiban for 350 Mln Euro

French insurer Groupama bought 100% of Romanian sector company Asiban for 350 million euro ($550.3 million) from four Romanian banks. Banca Comerciala Romana (BCR), the Romanian arm of Austria’s Erste, the Romanian Development Bank (BRD), owned by Societe Generale, Banca Transilvania and Romania’s state-owned bank CEC held a share of 25% each in Asiban.