Piraeus buys Cyprus bank units in Greece for 524 million euros

By George Georgiopoulos, Lefteris Papadimas and Laura Noonan

ATHENS |
Tue Mar 26, 2013 5:11pm GMT

ATHENS (Reuters) – Greece’s Piraeus Bank concluded to buy a operations of stricken Cypriot banks in Greece for 524 million euros, a lender pronounced on Tuesday, in a understanding fast cobbled together to strengthen a Greek banking zone from a island’s debt crisis.

The deal, saved by Greece’s bank bailout account HFSF, means 312 internal branches of a 3 Cypriot banks will free on Wednesday after being close given Mar 19 as Cyprus scrambled to strike a bailout understanding to forestall an mercantile meltdown.

The send of the

Read full article: http://news.sky.com/story/1069762

Source:
http://www.news.ezonearticle.com/2013/03/26/piraeus-buys-cyprus-bank-units-in-greece-for-524-million-euros/