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EBS - Erste Bank AG News Story

€18.16 -0.4  -1.9%

Last Trade - 23/09/20

Sector
Financials
Size
Large Cap
Market Cap £6.75bn
Enterprise Value £3.76bn
Revenue £7.69bn
Position in Universe 126th / 1039

Erste Bank aims to buy out small shareholders in Czech unit

Thu 30th August, 2018 9:32am
PRAGUE, Aug 30 (Reuters) - Erste Group Bank  ERST.VI  wants
to buy out minority shareholders in its Czech lender Ceska
Sporitelna to take full control of the profitable unit.
    Ceska Sporitelna has been asked by Erste to call a general
meeting to vote on the proposal, according to a filing on the
Czech bank's website. Czech daily E15 was the first to report
the news.
    Ceska Sporitelna has 152 million shares, of which Erste
controls 98.97 percent. The rest is owned by Czech towns and
municipalities and other small investors. Erste has offered to
pay 1,328 crowns per share for the shares it does not own.

 (Reporting by Jason Hovet
Editing by David Goodman)
 ((jason.hovet@thomsonreuters.com; +420 224 190 476; Reuters
Messaging: jason.hovet.thomsonreuters.com@reuters.net))
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