The deal to sell the troubled New Hellenic Postbank to Eurobank has been agreed upon. The Hellenic Financial Stability Fund (HFSF) said the procedure was finished on July 16 with the signing of a bonding agreement.
The decision was taken after a competitive process during which four offers were submitted on July 9.
In the final decision, parameters such as the conditions of the bids, the long-term maximization of the benefit resulting for the total portfolio of the Hellenic Financial Stability Fund, as well as the systemic stability, were taken into account.
The offered price will be paid in Eurobank’s shares that will be issued for this purpose. The New Hellenic Postbank will continue to serve its depositors and clients.
The sale will be completed with contribution of the New Hellenic Postbank’s shares to Eurobank and after the necessary approvals by DG Comp, the Bank of Greece, the Hellenic Competition Commission and the General Assembly of Eurobank’s shareholders.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
