Eurobank in talks with Banca Transilvania to sell Romanian business

Eurobank is in talks with Banca Transilvania to sell its subsidiaries in Romania as part of a restructuring plan agreed by Greece's third largest lender with European Union authorities.

The sale would close a decade-long chapter of ambitions by Eurobank and other Greek lenders to spread their wings abroad after the country's debt crisis forced them to retreat.

Eurobank, which has operations in Romania, Bulgaria, Serbia and Cyprus, needs to shrink its non-Greek assets to 8.7 billion euros next year from about 11.2 billion currently, based on commitments agreed with European competition authorities.

The bank said the potential sale will include Romanian units Bancpost, ERB Retail Services IFN and ERB Leasing IFN.

"The details as regards the negotiations will be published after finalizing necessary steps and obtaining relevant approvals. Finalisation of the...