Piraeus Bank bids for EURO

Piraeus Bank of Greece announced its intention to bid for full control of Euroinvestment & Finance Public Co. Ltd. (EURO) share capital that it does not already own at the price of 25 cent per share.

Earlier in December, Piraeus Bank purchased 6.6 mln unexercised rights of Euroinvestment at 25 cent each for a total price consideration of CYP 1.66 mln or EUR 2.9 mln and in the process raised its stake in the company to 85.37%.

Out of the 13.0603.778 shares in circulation of EURO, the Greek bank now will submit a bid for the remaining 14.63% that it does not own for a deal value of CYP 497.558.