Greece-owned Alpha Bank is going ahead with the takeover of Astrobank at a preliminary purchase price of €205 mln, making the new merged entity the third biggest bank in Cyprus. After the
Capital Intelligence Ratings has upgraded Hellenic Bank’s ratings, but revised the outlook from ‘positive’ to ‘stable’, based on a strong capitalisation, the ability to absorb future shocks and the synergies expected from
Hellenic Bank’s takeover of CNP Assurances’ regional operations, allowing it to dominate the local insurance market is a credit positive, according to Moody’s Investors Service. The €182 mln deal will help the
€182 mln takeover to boost life and general market share to 30% and 23% Hellenic Bank is set to dominate the insurance market after announcing a landmark takeover of the local
AstroBank announced that negotiations to take over the Cyprus Development Bank (CDB) have fallen through. The island’s fourth-largest lender had set out earlier in September to acquire CDB in a bid to
Greece’s Eurobank is reportedly preparing a strategic roadmap to takeover Hellenic Bank, the island’s second-biggest lender; however, there are obstacles as major shareholders are unwilling to budge. With a 29.2% Hellenic stake,
Greece’s Eurobank is reportedly preparing a strategic roadmap to takeover Hellenic Bank, the island’s second-biggest lender, just months after increasing its stake to over 29%. Once it reaches the 30% benchmark, according
Switzerland’s wealthy and diversified economy, strong fiscal position, and low public debt ratio provide buffers to withstand a substantial shock in excess of the explicit support the government has offered to UBS
Eurobank is moving closer to a takeover of the island’s second-largest lender after solidifying its position as Hellenic Bank’s major shareholder acquiring another 3.2%, essentially buying out Senvest Management LLC. Combined with
US private equity firm Lone Star seems to have abandoned its interest in local lender Bank of Cyprus and will not be submitting a fourth takeover bid by Friday. LSF XI Investments
