Insider Business Hellenic calls EGM for August 22, sets up integration committee for CCB...

Hellenic calls EGM for August 22, sets up integration committee for CCB deal

Hellenic Bank has announced the establishment of a temporary / ad hoc Integration Committee of the Board as from August 1  to ensure the effective oversight and input of the Board of Directors in smoothly implementing the integration
strategy of the acquired business of certain assets and deposits of the Cyprus Co-operative Bank Ltd.

The acquired business of €10 billion will include up to 1,100 employees and up to 75 retail branches. The bank said that the Integration Committee will be operational for a period  of up to 18 months.  Its composition will be announced in course.

Meanwhile, Hellenic’s EGM to approve a capital raise of €150m will be held on August 22. The capital raise is integral to the bank’s acquisition of the good part of the CCB.

Read more

https://in-cyprus.com/news/business/hellenic-bank-ccb-ink-deal/

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