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Athens News Agency: News in English, 06-08-09

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

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


  • [01] Credit Agricole acquires 71.97% of Emporiki Bank
  • [02] FM Bakoyannis has contacts in New York

  • [01] Credit Agricole acquires 71.97% of Emporiki Bank

    Cr?dit Agricole S.A. on Wednesday announced that its public cash offer to shareholders of Athens-quoted Emporiki Bank of Greece S.A. for the purchase of stock has been successful with the French credit institution to acquire 71.97% of stock upon settlement of transfers.

    ?I am delighted at the success of the offer for Emporiki and want to express my appreciation in the confidence the Greek government and all other shareholders have shown us by tendering their shares to the Ôffer," Ren? Carron, chairman of Cr?dit Agricole S.A. said in a statement.

    "This transaction marks a major step in our international strategy and will contribute to our objective to increase our net banking income from non-French operations. We very much look forward to strengthening the bank in Greece and in the region to the benefit of Emporiki‚s activities, customers and employees,? Carron noted.

    Management of the Paris-based bank informed the Greek bourse that the breakdown of stock acquired in the tender is as follows:

    ? 1,300 shareholders of Emporiki holding a total of 69,574,826 shares accepted the offer at the close on 7 August 2006, representing approximately 52.55% of Emporiki's share capital

    ? Together with Cr?dit Agricole S.A.‚s direct shareholding of 25,702,456 shares, which includes 14,002,359 shares purchased in the market from announcement of the offer and represents 19.41% of Emporiki, Cr?dit Agricole will hold upon settlement of transfers 71.97% of the Greek bank

    Completion of off-the-exchange transfer and settlement of Emporiki shares tendered by August 7, 2006 is expected to occur on 16 August 2006.

    Finally, the Bank of Greece (central bank) has approved the acquisition by Cr?dit Agricole of control of Emporiki; and the offer was notified under a simplified procedure to the European Union's executive Commission, which is expected to issue a decision on 21 August at the latest 2006, the statement said.

    [02] FM Bakoyannis has contacts in New York

    Greek Foreign Minister Dora Bakoyannis on Wednesday had meetings in New York with Arab League Secretary-General Amr Moussa and with the Foreign Minister of Qatar, Sheikh Hamad Bin Jasem Bin Jaber al Thani, while she will also meet with her counterpart from the United Arab Emirates.

    Greek Foreign Ministry Spokesman George Koumoutaskos told reporters that "also after today's (Wednesday's) meetings by the foreign minister, as well as from other information from the United Nations' headquarters, the procedures and consultations are culminating, in arather heavy climate, in the effort for the blending of views on a draft resolution for the confrontation of the crisis in Lebanon."

    Koumoutsakos underlined that Bakoyannis had a detailed discussion also with regard the aspects of the draft resolution, but also on the situation in the region for the coming period of time, mainly due to the undertaking by Greece of the Security Council presidency in September.

    The discussions, the spokesman clarified, also concerned what the region will confront, but also how the problems which are being created will be dealt with.

    Koumoutsakos reiterated the Greek position for a strong government in Lebanon.

    The United States and France are continuing the consultations in an effort for an agreement to be reached, while there are rumours at the United Nations even of an eventual submittal by the French of a draft resolution of their own at the Security Council.

    The difficulty which exists concerns the withdrawal of the Israeli troops from southern Lebanon and in which way and who will undertake, in a possible withdrawal, the control of the region.

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