Closing of the Acquisition of GENIKI Bank by Piraeus Bank
Piraeus Bank announced on 14/12/2012 the finalization of the acquisition of the entire stake of Societe Generale (99.08%) in GENIKI Bank, having received all required approvals. Following closing adjustments, the investment by Societe Generale amounts to €460 mn versus the €444 mn announced on October 19, 2012.
With the addition of GENIKI Bank, Piraeus Bank Group acquires a fully capitalized and self-funded bank, thus further improving its financial and strategic position.
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