Piraeus Bank bid for 18% stake in Atlantic approved

Atlantic Insurance Company Public Ltd (ATL.CY) announced that all necessary approvals for the sale of 7,039,606 shares, or 18% of its capital that its major shareholders agreed to sell to Piraeus Bank (Cyprus) Ltd in September 2008 have been secured. The approvals allow Piraeus Bank (Cyprus) Ltd to acquire up to 25% plus 1 share in the share capital of Atlantic Insurance Company Public Ltd. The transfer of shares will be finalized after the expiry of the closed period.