Qatar to own 17% of Greece’s largest bank

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.

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