Marfin Popular to sell stake in Estonian bank

496 views
1 min read

Cyprus-based lender Marfin Popular is to to sell its stake in Estonian subsidiary Marfin Pank Eesti AS to Ukrainian firm Ukrselhosprom Pcf LLc for 6.6 million euros ($8.6 million).

Marfin, which controls 70.54 percent of the Estonian concern, said on Tuesday the deal was expected to be completed by the end of February at the latest.

Marfin is the heaviest exposed among Cyriot commercial banks to Greek debt and needs to raise 1.97 billion euros additional capital by June to meet regulators' capital buffer requirements.