Marfin majority shareholders reject Piraeus offer

Marfin Popular Bank announced that its majority shareholders, V. Thocharides (4.15% stake), the Lanitis family (4.01% stake) and Andreas Vgenopoulos – CEO (2.56% stake) have informed the Board of Directors of Piraeus Bank that they have rejected the takeover bid submitted by the latter seeking control of the Bank.

The majority shareholders reached the decision after Piraeus Bank decided to decline to proceed with a full disclosure of financials and other details, as offered by MPB previously.

MPB said that considering that Dubai Financial, its majority shareholder has also rejected the offer, then the percentage of MPB shareholders who have rejected the offer is 27.65% of the share capital.