via Wall St. Cheat Sheet.
Alpha Bank will acquire Eurobank to create Greece’s largest bank in a move that will both strengthen the two banks and bring stability to the Greek financial sector as a whole. Combined, the two banks have a total of 146 billion euros in assets.
via the NY Times:
The problem for other potential foreign investors is that the Qataris may have nabbed the best deal.
via Reuters, Qatar to own 17 pct of merged Alpha-Eurobank
Aug 29 (Reuters) – Qatar will own about 17 percent of the lender that will be created by the merger of Alpha Bank (ACBr.AT) and Eurobank (EFGr.AT), the two banks said in a presentation on Monday.
Paramount, a company controlled by Qatar, will own the stake after taking part in a 1.25 billion euro rights offer and fully taking up a 500 million euro convertible bond issue, they said.