by james illmanAllen & Overy (A&O) has teamed up with Austrian finance leader Wolf Theiss to advise on Erste Bank’s €2.9bn (£2bn) rights issue, the largest-ever offering on the Vienna Stock Exchange.

Erste Bank, one of Austria’s leading banks, will use the proceeds to help finance its acquisition of a €3.75bn (£2.6bn) stake in Banca Comerciala Romana, the largest bank in Romania.