Piraeus Bank: Agreement for the Sale of Serbian Operations
Piraeus Bank announces that it has entered into an agreement to sell its Serbian banking and leasing operations to Direktna Banka A.D., a local Serbian banking group that has been strongly growing its presence in the market, for a total cash consideration between €58mn up to €61mn, depending on the financial performance of the divested assets until completion of the transaction, through a combination of direct sale price and simultaneous reduction of capital in Piraeus Bank Beograd AD.
The transaction is conditional upon the usual corporate and regulatory approvals, including those of the National Bank of Serbia and the Hellenic Financial Stability Fund. The transaction represents another step towards the implementation of Piraeus Bank’s Restructuring Plan commitments, as those were agreed with the Directorate General of Competition of the European Commission.
The transaction is expected to close in the first quarter of 2018, following the receipt of all necessary approvals and is neutral to Piraeus’ CET-1 ratio.
Mr Christos Megalou, Chief Executive Officer of Piraeus Bank, said with regards to the transaction: “In accordance with our Restructuring Plan commitments to reduce our international presence, we are announcing the sale of our Serbian operations to Direktna Banka after a highly competitive sale process. We believe that Piraeus Bank AD Beograd customers and employees will benefit from being part of an enlarged banking group and we look forward to the timely completion of the transaction”.
BNP Paribas acted as financial adviser to Piraeus Bank on the transaction, whilst Clifford Chance and Andric Law Office acted as legal counsel.
About Piraeus Bank
Headquartered in Athens, Greece, with approximately 17.1 thousands employees in 8 countries, Piraeus Bank Group offers a full range of financial products and services to approximately 5.7 mn customers. Total assets of the Group amounted to €73.9 bn, net loans to €46.4 bn and customer deposits to €40.9 bn on June, 2017.
Founded in 1916, Piraeus Bank operated as a private credit institution for many decades, while it went through a state ownership for the period 1975-1991 until it was privatized in December 1991. Since then, it has rapidly grown in size and activities, representing today the leading Bank in Greece with 30% market share in terms of loans and 29% of deposits.
Head of Press Office
+30 210 3288830
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Schlumberger Announces Full-Year and Fourth-Quarter 2017 Results19.1.2018 12:00 | Pressemelding
Schlumberger Limited (NYSE:SLB) today reported results for full-year 2017 and the fourth quarter of 2017. Full-Year Results (Stated in millions, except per share amounts) Twelve Months Ended Change Dec. 31, 2017 Dec. 31, 2016 Year-on-year Revenue $30,440 $27,810 9% Pretax operating income $3,921 $3,273 20% Pretax operating margin 12.9% 11.8% 111 bps Net loss (GAAP basis) $(1,505) $(1,687) n/m Net income, excluding charges and credits* $2,085 $1,550 35% Diluted EPS (loss per share) (GAAP basis) $(1.08) $(1.24) n/m Diluted EPS, excluding charges and credits* $1.50 $1.14 32% *These are non-GAAP financial measures. See section below entitled "Charges & Credits" for details. n/m = not meaningful Full-year 2017 revenue of $30.4 billion increased 9% year-on-year. This included a full year’s activity from the acquired Cameron businesses as compared to three quarters of activity in 2016. Excluding the addition of Cameron, revenue growth was driven by land activity in North America, which increa
The Coca-Cola Company Announces New Global Vision to Help Create a World Without Waste19.1.2018 11:55 | Pressemelding
The Coca-Cola Company announced today that it is fundamentally reshaping its approach to packaging, with a global goal to help collect and recycle the equivalent of 100% of its packaging by 2030. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180119005104/en/ In 2017, employees from Heartland Coca-Cola Bottling Co. joined with other volunteers in St. Louis to collect and sort 14,480 pounds of debris; 63 percent was diverted for recycling. Coca-Cola then partnered with manufacturer Phoenix Technologies to convert plastic bottles into recycled PET plastic for use in new bottles. (Photo: Business Wire) This goal is the centerpiece of the Company’s new packaging vision for a World Without Waste, which the Coca-Cola system intends to back with a multi-year investment that includes ongoing work to make packaging 100% recyclable. This begins with the understanding that food and beverage containers are an important part of people’s m
Researchers and Scientists from Five Countries Named Winners of King Faisal Prize 201819.1.2018 10:33 | Pressemelding
Five researchers and scientists from Malaysia, Jordan, Tunisia, the US and the UK have been named winners of the King Faisal Prize 2018 as the 40th edition of the renowned award recognized their distinguished contributions towards humanity. The Prize honours exceptional achievements in five categories: Service to Islam, Islamic Studies, Arabic Language & Literature, Medicine, and Science. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180119005245/en/ His Royal Highness Prince Khalid Al-Faisal, Chairman of King Faisal Prize Board, Abdulaziz (Photo: AETOSWire) Professor Irwandi Jaswir, Deputy Dean of the International Institute for Halal Research and Training (INHART) and Secretary of Council of Professors at the International Islamic University Malaysia (IIUM), has been named the winner in the Service to Islam category for contributions to the development of ‘Halal Science’ and Halal food and consumer goods. Professor Bashar
E.ON Chooses Corinex Broadband over Powerline Technology for their Smart Metering Rollout19.1.2018 06:00 | Pressemelding
E.ON, an international energy company that serves 32 million customers across multiple countries, has decided to use broadband over powerline (BPL) as the key technology in their communication mix, in the smart metering communication infrastructure for the low voltage part of their grid. E.ON chose Corinex as the solution provider for the initial two years of the deployment. The initial deployment will be several ten thousands of repeaters and head ends providing secure communication for a couple of hundred thousands of households. Corinex Grid Value network management based on IBM Tivoli platform will manage the network. “After extensive field trials, we found that Corinex broadband over powerline technology meets our requirements for mass rollout of smart metering services. We are convinced BPL is ideally suited to address the needs of many other utilities, so E.ON is interested in supporting BPL industry standardization in order to create a broad ecosystem of silicon and system vend
Changes in Executive Management at Sosei19.1.2018 01:54 | Pressemelding
Sosei Group Corporation (“Sosei” or the “Company”) (TOKYO: 4565), the world leader in GPCR medicine design and development, today announced that Dr. Fiona Marshall has resigned from her position as Executive Vice President and Chief Scientific Officer of Sosei to assume a senior role outside the Company. Dr. Marshall will leave Sosei at the end of February 2018. “As a co-founder of Heptares, I am very proud to have been associated with building a team of talented scientists over the past decade that has made many important breakthroughs in the field of GPCR stabilization and structure-based drug design, a unique technology that now underpins Sosei’s powerful drug discovery capability,” said Dr. Marshall. “With the team in excellent hands, I feel the time is right for me to move on to new challenges and I wish everyone at Sosei the best for what looks set to be an exciting future for the Company.” Peter Bains, Chief Executive Officer of Sosei, added: “Fiona has been a pivotal figure in
DXC Technology Named a 2018 Thomson Reuters Top 100 Global Technology Leader18.1.2018 23:12 | Pressemelding
DXC Technology (NYSE: DXC) has been recognized as a 2018 Top 100 Global Technology Leader by Thomson Reuters. The inaugural program identifies the tech industry’s most operationally sound and financially successful organizations. The Thomson Reuters Top 100 Global Tech Leaders study, the industry’s first holistic assessment of today’s leading tech companies, utilizes a 28-point data-driven algorithm to objectively identify organizations positioned to thrive in a complex and changing business environment. The patent pending methodology, developed by the Thomson Reuters Boston Innovation Lab, is based on eight principal pillars of performance: Financial Performance, Management and Investor Confidence, Risk and Resilience, Legal Compliance, Innovation, People and Social Responsibility, Environmental Impact, and Reputation. According to Thomson Reuters, these are the companies whose final scores across the pillars outshine over 5,000 other technology companies around the world. “DXC Techno
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom