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Wednesday, January 28, 2009

From Turkey to Greece

Finansbank sells Malta unit, from Hurriyet news:
Turkey’s Finansbank has announced it is selling its banking unit in Malta to National Bank of Greece, or NBG, for 185 million euros ($240 million) in cash.

NBG currently owns 95 percent of Finansbank. After acquiring 46 percent of Finansbank in 2006, NBG gradually increased its stake to 89.4 percent through purchases of shares in the stock market. NBG also acquired 9.68 percent of the shares formerly owned by Fiba Holding for $700 million.

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