Hellenic to triple balance sheet by paying Co-op €74m

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Hellenic to triple balance sheet by paying...
 © BusinessMail 2018
By Stelios Orphanides

Following the formal approval by the Cyprus Cooperative Bank’s shareholders of Hellenic Bank’s proposal to acquire its operations, the latter said that its board approved a capital plan submitted to the Co-op and subject to the European Central Bank’s (ECB) approval.

“The company has offered to pay Cyprus Cooperative Bank €74m in cash as consideration for the acquisition,” Hellenic said in an emailed five-page statement in late Monday, three days after the council of ministers authorised the Ministry of Finance to approve the transaction.

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This article was automatically added to our system 19-6-2018

Hellenic to triple balance sheet by paying Co-op €74m


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