French-Belgian group Dexia pulled out from submitting a bid for the Romanian Saving House CEC, according to the group’s press release posted on its site on Monday.

The list of potential investors expected to submit bids by July 17 shortened to four regional groups: Raiffeisen, OTP, EFG Eurobank, and the National Bank of Greece. All four potential bidders are already present in Romania.

In April, the Romanian Government announced it would sell 69.9% of CEC. The French- Belgian banking group showed interest both in the privatization bid of the Romanian Commercial Bank, eventually won by Austrian Erste Bank, and the CEC.

Despite this withdrawal, Dexia's press release reads that “Romania remains an attractive market in particular from the financing of public sector point of view.”