17 Mar 10 / 14:00:35
Bulgaria Bank Go Ahead for Stater Banka Acquisition
Bulgaria's Central Cooperative Bank, part of the country's largest holding company Chimimport, has been given the green light by the country's financial supervision authorities to acquire a third bank in Macedonia.
In mid-February Stater Banka said in a statement on the Macedonian Stock Exchange website that its majority owner, Iceland 's Milestone Group, is currently negotiating with Bulgaria's Central Cooperative Bank to sell its 91,71% stake in the bank.
The CCB will pay €5.9 M for Stater Banka's 339,178 shares to its majority owner Milestone Group. The price per share has been set at €17.3, Novinte reports.
Bulgaria's Central Cooperative Bank has already acquired two banks in Macedonia – Sileks Banka and Post Bank, as well as a branch in Nicosia, Cyprus.
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