17/01/2008 12:15
The procedures for the merger of Laiki Investment, CLR Capital and Egnatia Finance for the creation of a single Group, the largest in Cyprus, continue normally.
Today, Marfin Popular Bank and Laiki Investment announced the acquisition of 100% of Egnatia Finance by Laiki Investment against €4.9 million. The seller was Marfin Popular Bank, which had acquired Egnatia with the same price. According to the announcement, this acquisition falls within the framework of the further restructuring of the provision of investment services by Marfin Popular Bank in Cyprus.
According to sources, the creation of the new Marfin CLR Group will be completed by April 2008. The merger was first announced on October 5, 2007.
CLR Capital participates in the new Group by 30% and Laiki Investment by 70%. The decision is subject to the safeguard of all necessary approvals and the conduct of a legal – accounting – tax audit.
With the completion of the deal, Marfin Group is expected to control more than 35% of the CSE transactions.
Today, Marfin Popular Bank and Laiki Investment announced the acquisition of 100% of Egnatia Finance by Laiki Investment against €4.9 million. The seller was Marfin Popular Bank, which had acquired Egnatia with the same price. According to the announcement, this acquisition falls within the framework of the further restructuring of the provision of investment services by Marfin Popular Bank in Cyprus.
According to sources, the creation of the new Marfin CLR Group will be completed by April 2008. The merger was first announced on October 5, 2007.
CLR Capital participates in the new Group by 30% and Laiki Investment by 70%. The decision is subject to the safeguard of all necessary approvals and the conduct of a legal – accounting – tax audit.
With the completion of the deal, Marfin Group is expected to control more than 35% of the CSE transactions.
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