Piraeus Bank Agrees the Sale of Piraeus Bank Romania
Piraeus Bank S.A. ("Piraeus" or the "Group") announces that it has entered into an agreement with J.C. Flowers & Co. ("JCF") for the sale of its entire shareholding stake in its banking subsidiary in Romania, Piraeus Bank Romania S.A. ("PBR"), (the “Transaction”). The Transaction has been approved by the Board of Directors of Piraeus Bank and the Hellenic Financial Stability Fund, and is subject to customary conditions, including regulatory approvals by the relevant authorities in Romania. The Transaction is expected to close in the first half of 2018.
The impact of the Transaction on the Group's regulatory capital position is expected to be neutral.
“The sale of our banking operations in Romania represents another major step towards the timely execution of the Group's restructuring plan commitments, as those agreed with the Directorate General of Competition of the European Commission, as well as the implementation of the strategic plan of the Group, “Agenda 2020”. I am particularly glad that going forward PBR will be owned and managed by one of the most well-esteemed international private equity firms with significant experience in the financial services space across numerous jurisdictions.”, Mr. Christos Megalou, Group’s Chief Executive Officer, said.
Mr. J. Christopher Flowers, CEO and Managing Director of JCF said:
“Piraeus Bank Romania has a solid solvency, liquidity, and asset quality profile in the fastest-growing economy in the European Union. We look forward to working with Piraeus Bank Romania to complete the acquisition and create a strong independent bank in the dynamic, local banking sector in Romania.”
UBS Limited is acting as exclusive financial advisor of Piraeus Bank for the Transaction. White & Case LLP is acting as international legal counsel of Piraeus Bank and Schoenherr si Asociatii SCA as Romanian legal counsel of Piraeus Bank for the Transaction.
Headquartered in Bucharest, PBR offers an array of products and services to domestic and international clients, including retail, SME and corporate banking and as at 30 September 2017 had total assets of EUR 1.5bn. PBR operates through 99 banking units, employs over 1,300 professionals and has approximately 150,000 active clients.
J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $15 billion of capital in 50 portfolio companies in 17 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. With approximately $6 billion of assets under management, J.C. Flowers has offices in New York and London. For more information, visit www.jcfco.com.
Piraeus Bank Group
Head of Press Office
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Dentsu Aegis Network Announces the Acquisition of Namics AG22.10.2018 14:00 | Tiedote
Dentsu Aegis Network today announces that it has signed a definitive agreement to acquire Namics AG, a leading full-service digital agency in Switzerland and Germany. Following the acquisition, which is subject to approval from the German competition authority, the company will become ‘Namics - A Merkle Company’. Namics’ digital experience, creative and service design expertise complements Merkle’s already significant customer experience (CX) and marketing technology practice in the region. An important step in Merkle’s strategy to increase its global footprint, it provides further scale and depth to Merkle’s people-based marketing capabilities, in particular in the areas of business transformation strategy, digital consulting and technology implementation across Adobe Experience Cloud, Sitecore, Salesforce and SAP and other leading technology partners. All Namics‘ 550 digital specialists based in Frankfurt, Hamburg, Munich, St. Gallen, Zurich and Belgrade will join Merkle, bringing it
Sony Corporation Selects ANAQUA for IP Management22.10.2018 14:00 | Tiedote
Anaqua, Inc., the leading provider of innovation and intellectual property (IP) management solutions, today announced that multinational technology company Sony Corporation has entered into a multi-year agreement to use the ANAQUA software to manage its patent and trademark portfolios. Sony is one of the world’s largest technology and entertainment companies, with products spanning consumer electronics, smart phones, game and network services, financial services, and professional products. “We are excited to welcome one of the world’s largest companies and IP leaders to Anaqua’s growing client community,” said Bob Romeo, CEO of Anaqua. “Sony’s decision to strategically partner with Anaqua for their IP Management system reinforces our continued investment in the APAC market.” ABOUT ANAQUA The most innovative companies in the world innovate with Anaqua. Its simplified software platform combines insight from big data analytics with critical tools, best practice workflows and advanced serv
4th International Conference on the Economics of Happiness 2018 to Be Held in Jeonju22.10.2018 14:00 | Tiedote
The 4th International Conference on the Economics of Happiness 2018 Jeonju will be held on November 8~9, 2018 at the Korea Traditional Culture Center in Jeonju to explore solutions for happiness and better future of citizens. Jeonju is the most unique Korean city and a typical tourist destination in Asia that has successfully preserved Korean traditional culture. With participation by experts in human, ecosystemic and social economics as well as leaders in organizations and entrepreneurs, including Helena Norberg Hodge, President of Local Futures, the International Conference on the Economics of Happiness 2018 will feature lectures and discussions to share experiences and present a vision under the subtitle of the ‘Strategy for Localization’. Starting with a keynote address by President Hodge, Junko Edahiro, President of the Institute for Studies in Happiness, Economy and Society in Japan, Takahashi Hiromichi, CEO of PAL System, and Jay Tompt, Professor of Economics at University of Pl
E2open to Acquire INTTRA, Adding the World’s Leading Ocean Shipping Network and Software Provider, Creating an Integrated Global Supply Chain and Logistics Operating Network22.10.2018 13:00 | Tiedote
E2open, the one place in the cloud to run your supply chain, today announced the acquisition of INTTRA, the leading ocean shipping network, software and information provider. The combination of INTTRA’s ocean carrier and shipper network with E2open’s industry leading business network will create a unified global logistics and supply chain network. E2open and INTTRA will join efforts to strengthen the connections and streamline the information flow between manufacturers, suppliers, shipping service providers, ocean carriers and all the participants in global trade. E2open is the largest cloud-based provider of networked supply chain solutions, featuring a complete portfolio of applications that enable the world’s most complex supply chains to better plan, collaborate, and execute their end-to-end operations. More than 70,000 partner companies and 200,000 users, many of the biggest brands and manufacturers across a range of industries, use the E2open network and platform to orchestrate t
Alibaba Cloud Expands European Presence With UK Data Centres22.10.2018 11:00 | Tiedote
Alibaba Cloud, the cloud computing arm of Alibaba Group, has today announced the opening of two availability zones in the UK, in addition to its Frankfurt and Dubai data centres launched in 2016. This expansion not only extends Alibaba Cloud’s capabilities within Europe, but also serves to highlight the provider’s ongoing commitment to the region. Alibaba Cloud’s local footprint is steadily increasing, with data centres across three EMEA locations: Frankfurt, Dubai, and now London. Answering an increase in demand for Alibaba Cloud services across the EMEA region, the pair of high performance availability zones will enable organisations in the region to accelerate the upgrade of their digital infrastructure enabling more efficient digital transformation initiatives. Business continuity is also a clear focus, with dual availability zones offering stronger disaster recovery capabilities. The London location also boasts 24/7 on-site support – including both security and engineering – as we
New Three-Year Data for Janssen’s TREMFYA®▼ (Guselkumab) Demonstrates Well Maintained Rates of Skin Clearance in Patients with Moderate to Severe Plaque Psoriasis22.10.2018 11:00 | Tiedote
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today new long-term data from the open-label period of the VOYAGE 1 clinical study. The data demonstrate well maintained rates of skin clearance with TREMFYA®▼ (guselkumab) treatment at Week 52 (1 year) and Week 156 (3 years) among adult patients with moderate to severe plaque psoriasis.1 The findings, presented at the 37th Fall Clinical Dermatology Conference in Las Vegas, USA, showed nearly 83 percent of patients receiving guselkumab in the Phase 3 VOYAGE 1 study maintained at least a 90 percent improvement in the Psoriasis Area Severity Index (PASI 90), or near complete skin clearance, and an Investigator’s Global Assessment (IGA) score of cleared (0) or minimal disease (1) at Week 156.1 “These findings are impressive as they demonstrate consistency in high rates of skin clearance with guselkumab treatment at Weeks 48, 100 and 156, with every eight-week maintenance therapy,” said Andrew Blauvelt, MD, MBA, President,
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme