19/03/2009 15:36
The three-way merger of Marfin, Egnatia and CLR signaled the end of an era for three Cypriot Investment Firms.
The Securities and Exchange Commission announced today that «Laiki Asset Management (Financial Services) Ltd», «Laiki Brokerage Ltd» και «Egnatia Financial Services (Cyprus) Ltd», as of 1st January 2009, have ceased as legal entities, due to their consolidation with the Cypriot Investment Firm «CLR Securities and Financial Services Ltd». Therefore, the operational licenses of these Cypriot Investment Firms with numbers 088/07, 009/03 and 006/03 cease to exist from the above date.
The merger of CLR and Laiki was announced in October 5, 2007. CLR Capital participated in the new group by 30% and Laiki Investment by 70%.
On January 17, 2008, Laiki Investment announced its decision to acquire 100% of the share capital of Egnatia Financial by Marfin Popular Bank. The acquisition was carried out in cash at the same price it had been acquired by Marfin Popular Bank, that is, €4.9 million.
The Securities and Exchange Commission announced today that «Laiki Asset Management (Financial Services) Ltd», «Laiki Brokerage Ltd» και «Egnatia Financial Services (Cyprus) Ltd», as of 1st January 2009, have ceased as legal entities, due to their consolidation with the Cypriot Investment Firm «CLR Securities and Financial Services Ltd». Therefore, the operational licenses of these Cypriot Investment Firms with numbers 088/07, 009/03 and 006/03 cease to exist from the above date.
The merger of CLR and Laiki was announced in October 5, 2007. CLR Capital participated in the new group by 30% and Laiki Investment by 70%.
On January 17, 2008, Laiki Investment announced its decision to acquire 100% of the share capital of Egnatia Financial by Marfin Popular Bank. The acquisition was carried out in cash at the same price it had been acquired by Marfin Popular Bank, that is, €4.9 million.
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