ATHENS (Reuters) – Piraeus Financial institution has agreed with funding agency Varde Companions to purchase its controlling stake in Trastor Actual Property Funding Firm for about 98 million euros ($111.04 million), the financial institution stated on Friday.
Underneath the settlement, Piraeus, which now holds a forty five% stake in Trastor, will purchase a further stake of 52% in Trastor, it stated.
As soon as concluded, the transaction will set off a compulsory tender supply by Piraeus to purchase the remaining 3% stake in Trastor.
Piraeus Financial institution CEO Christos Megalou stated that the transaction would immediately improve the financial institution’s payment income profile and additional bolster its actual property sector know-how.
($1 = 0.8825 euros)
Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or harm because of reliance on the data together with knowledge, quotes, charts and purchase/promote alerts contained inside this web site. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is without doubt one of the riskiest funding kinds potential.