The Piraeus Bank group on Tuesday announced that a sale of its Cypriot subsidiary would be completed by the end of 2016.
Holding M. Sehnaoui SAL (HMS) has agreed to purchase 26 percent of Piraeus Bank Cyprus for 3.2 million euros, or 3.72 euros per share.
The bank will also proceed with a share capital increase of 40 million euros, without the participation of the parent bank, and at an offer price of 3.72 euros per share.
