First Bank entered into an agreement to acquire 99.92% stake in Bank Leumi Romania S.A. from Bank Leumi le- Israel B.M. (TASE:LUMI) on April 17, 2019. The transaction is to be approved by the National Bank of Romania and the Romanian Competition Council. The transaction is expected to be finalized within the second part of the year. As of June 24, 2019, Romanian Competition Council approved the takeover. Daniel Badea, Madalina Rachieru-Postolache, Loredana Ralea, Radu Costin, Ecaterina Burlacu, Bogdan Creteanu, Gabriela Muresan, Mihnea Niculescu and Maria Ciulica of Badea Clifford Chance acted as legal advisors to First Bank. Marian Dinu, Paula Corban-Pelin, Georgiana Stan and Ciprian Frandes of DLA Piper acted as the legal advisor to Bank Leumi le- Israel B.M. (TASE:LUMI). Jefferies LLC acted as financial advisor to Bank Leumi le- Israel B.M. Ernst & Young acted as financial advisor and accountant to First Bank SA.