Hungarian OTP Bank, AIG Consumer Finance of America and BNP Paribas from France are in talks to buy Credisson, a company specialised in consumer finance, sources close to the deal told Ziarul Financiar.

Two other powerful strategic investors - Sofinco (part of Credit Agricole Group of France) and GE Capital (a division of General Electric, the world's biggest company in terms of market value) - announced their interest at the last minute and are attempting to catch up.

The sale of Credisson could be completed by this spring, with the deal worth tens of millions of euros.

Credisson began business about three years ago, when the consumer finance operations of Flanco, currently owned by investment fund Oresa Ventures (80%) and Flanco founder Dan Andronescu (20%), were divested.

Last year they were in talks with a different financial investor, Poland's Polish Enterprise Fund, to buy into the business. Polish Enterprise Fund would have owned 41% in Credisson following a 9 million euro deal, which included the price of the stake and a capital increase. However, the deal did not go through due to the increasing appetite of the strategic investors.

Credisson was the first consumer finance company in Romania and was established due to the favourable macroeconomic circumstances (stabilisation of the exchange rate for the domestic currency and the decline in interest rates) and the potential for market growth. Over the course of time, it became a lender that could match a medium-sized bank.

Nearly every potential buyer for Credisson has entry onto the Romanian market this year as its goal, the Romanian market currently being regarded as highly attractive, according to market sources.

The volume of funding granted by Credisson International SRL exceeded 105 million euros last year, ac