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Athens Macedonian News Agency: News in English, 13-01-11

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

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] National Bank launches public offer to acquire Eurobank
  • [02] US reaffirm support for Nimetz efforts for FYROM name solution

  • [01] National Bank launches public offer to acquire Eurobank

    AMNA -- The National Bank of Greece (NBG) on Friday formally launched a public offer to acquire Eurobank. The process will last five weeks –with the option of adding another two weeks if necessary. Under the plan, Eurobank's shareholders will have a deadline by February 15 to accept National Bank's offer, while the results of the process will be announced two days after the end of the deadline. The new shares will begin trading in the Athens Stock Exchange in February 27.

    National Bank's offer envisages a share swap rate of 58 National Bank's shares for 100 Eurobank shares. A 43.6 pct of Eurobank's voting rights' shares have committed to accept the offer. amna

    National Bank Group will transform into a very powerful financial group following the acquisition, with assets totaling 174.2 billion euros, a loan portfolio of 113 billion and saving deposits of 84.6 billion euros.

    mso-fareast-font-family:"Times New Roman";color:#0F1419;mso-ansi-language:EN-US; It will operate a strong branch network in Greece and an improved presence in Southeastern Europe, having a strong presence in Turkey, Romania, Bulgaria and Serbia. The group's customers will benefit from the expanded group's competitive capabilities, including a wider range of products, improved lending capabilities and more effective services. The merger will bring synergies of 570-630 million euros annually from the end of 2014.amna

    [02] US reaffirm support for Nimetz efforts for FYROM name solution

    mso-fareast-font-family:"Times New Roman";color:#0F1419;mso-fareast-language: AMNAmso-fareast-font-family:"Times New Roman";color:#0F1419;mso-ansi-language:EN-US; "Tahoma","sans-serif";mso-fareast-font-family:"Times New Roman";color:#0F1419; --"Tahoma","sans-serif";mso-fareast-font-family:"Times New Roman";color:#0F1419; The US reaffirmed its long-standing support of the UN process for a solution of the FYROM name issue and the efforts of the UN secretary general's personal envoy on the issue, Matthew Nimetz, in statements by State Department spokesperson Victoria Nuland during a regular press briefing on Thursday in Washington.mso-fareast-font-family:"Times New Roman";color:#0F1419;mso-ansi-language:EN-US; amna

    To a question on Nimetz's current visits to Athens on Wednesday and Skopje on Thursday, Nuland affirmed that Ambassador Nimetz visited Athens and Skopje once again, "to try to settle the longstanding name issue (between FYROM and Greece)". "We have long supported this UN process and hope that the leaders of (of the two countries) will be able to find a mutually acceptable solution to the name issue, will avail themselves of Ambassador Nimetz's efforts and that we'll see some progress," Nuland said.


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