Piraeus Bank to buy additional stake in real estate company Trastor
21/01/2022 08:37
ATHENS, Jan 21 (Reuters) - Piraeus Bank BOPr.AT has agreed
with investment firm Varde Partners to buy its controlling stake
in Trastor Real Estate Investment Company for about 98 million
euros ($111.04 million), the bank said on Friday.
Under the agreement, Piraeus, which now holds a 45% stake in
Trastor PREr.AT , will acquire an additional stake of 52% in
Trastor, it said.
Once concluded, the transaction will trigger a mandatory
tender offer by Piraeus to buy the remaining 3% stake in
Trastor.
Piraeus Bank CEO Christos Megalou said that the transaction
would instantly enhance the bank's fee revenue profile and
further bolster its real estate sector know-how.
($1 = 0.8825 euros)
(Reporting by Angeliki Koutantou; editing by Jason Neely)
((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))