Insider Business Government to deposit 2.5 billion euro at CCB in the form of...

Government to deposit 2.5 billion euro at CCB in the form of a bond

The Government officially announced on Tuesday it was depositing 2.5 billion euro at the Cyprus Cooperative Bank (CCB), in the form of a bond, to support it amid a tender for the privatisation of the nationalised cooperative sector.

On March 19 the CCB launched a tender for the expression of interest offering two options; acquiring a controlling stake in the bank’s share capital, currently owned by the state, or acquiring assets and liabilities.

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