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.

One Response

  1. Read the writing on the wall. We are being attacked on all fronts.

If sharia law continues spreading, you'll have less and less freedom of speech - so speak while you can!

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