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