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Athens Macedonian News Agency: News in English, 16-12-29

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] AKEL leader notes 'great understanding' between Greece-Cyprus after meeting with Tsipras
  • [02] Piraeus Bank completes sale of subsidiary in Cyprus

  • [01] AKEL leader notes 'great understanding' between Greece-Cyprus after meeting with Tsipras

    The issues that remain open in the ongoing Cyprus talks between the two communities on the island were discussed in a meeting between Prime Minister Alexis Tsipras and Cyprus' AKEL general secretary Andros Kyprianou in Athens on Thursday, in which Foreign Minister Nikos Kotzias participated.

    "We discussed thoroughly all the aspects of the remaining issues on Cyprus. Issues of substance but also procedural issues and I believe we have a great understanding on issues of both substance and procedure," the Cypriot party leader said after the meeting.

    "I would like to thank the Greek prime minister for the support he is offering us as we are at a very crucial and decisive phase with regard to the future developments in Cyprus. The process that will lead to Geneva and the actual talks will determine what the future of our country and its people will be," he added.

    Kyprianou noted the "great understanding" between Cyprus and the Greek government and thanked the Greek premier for the support he has offered.

    Commenting on the role his party will play, he said it will have a constructive role "because we believe it is important to achieve significant results in Geneva, which should be integrated into the enduring principles and the framework formulated by the UN resolutions, the High Level Agreements, international law and the principles on which the EU is founded."

    Kyprianou also urged all political parties in Greece and Cyprus to cooperate in the "highest possible degree" in order to be more effective in Cyprus' claims.

    Tsipras is currently meeting with the leader of Cyprus' Greens, Georgios Perdikis.

    [02] Piraeus Bank completes sale of subsidiary in Cyprus

    Piraeus Bank on Thursday announced the completion of the sale of a stake held in its subsidiary in Cyprus, Piraeus Bank Cyprus Ltd to Holding M. Sehnaoui SAL for 3.2 million euros.

    In an announcement, the bank said that the deal was completed after having received all required approvals from the regulatory authorities and the Hellenic Financial Stability Fund. Concurrently, Piraeus Bank Cyprus concluded a 40 million euros capital raise without Piraeus Bank's participation. As a result of the aforementioned, the Group's shareholding in PBC is thus reduced to 17.7 pct. The successful conclusion of the sale agreement of PBC is in accordance with the implementation of the Group's Restructuring Plan, as approved by the European Commission at the end of 2015. As already communicated, the transaction improves the CET-1 capital ratio of Piraeus Bank by c.15 basis points.

    UBS Limited acted as the financial advisor of Piraeus Bank for the transaction. Norton Rose Fulbright and Antis Triantafyllides & Sons LLC acted, respectively, as the international and local legal advisors for the transaction.

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