J.C. Flowers Is Said to Consider Sale of Romania’s First Bank

US private equity firm J.C. Flowers & Co. is considering a potential sale of Romanian lender First Bank, people with knowledge of the matter said.

The investment firm, which is known for its distressed banking deals, has been working with Societe Generale SA to gauge interest from possible buyers, the people said. Any transaction could value First Bank at around €150 million ($163 million), the people said, asking not to be identified because the discussions are private.

UniCredit SpA is among parties that held preliminary talks with J.C. Flowers in recent weeks, though it decided not to proceed with a ...