Cyprus Development Bank sold to EFP

Cyprus Finance Minister Michalis Sarris is due to sign the changeover in the share ownership of the state-owned Cyprus Development Bank at a special ceremony Thursday at 13.00 at the Finance Ministry.

Sarris will sign the agreement on behalf of the government, while representatives of the European Investment Bank holding 11.99% of the CDB stake will also be present to sign the deal, selling the shares to the joint venture headed by Emerging Financial Partners.