Hellenic Postbank sold to Eurobank

Written by on July 15, 2013 in Business - No comments

The Hellenic Financial Stability Fund (HFSF) has picked Eurobank to buy the Hellenic Postbank, after a board meeting held over the weekend.

An HFSF announcement says it will “work closely with Eurobank in order to sign a binding agreement on Monday July 15th 2013”. Eurobank’s offer reportedly solely involved shares, not cash.

Alpha Bank, the National Bank of Greece and Piraeus Bank’s Geniki unit had also bid to acquire the Postbank.

On Friday, the HFSF also picked Eurobank to acquire small lender Proton Bank, which is also fully owned by the fund.

 

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