HSBC sells Laiki stake to Marfin

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HSBC Holdings plc said Thursday that it has reached agreement for the sale of its 21.16% shareholding in The Cyprus Popular Bank Public Company Limited, for a consideration of approximately USD 235 mln or CYP 112 mln in cash.

The purchasers are: Marfin Financial Group, Tosca Fund and Laiki Bank (Nominees) Ltd.

HSBC Holdings plc has been advised by its investment banking arm and Investment Bank of Greece S.A. acted for the purchasers on the transaction.