November 8 (SeeNews) - Greece's Eurobank Ergasias has signed an agreement to acquire Piraeus Bank Bulgaria from Greek peer Piraeus Bank, Eurobank's Bulgarian unit said.
The value of Piraeus Bank Bulgaria's shares is 75 million euro ($85.8 million), Eurobank Bulgaria, which operates under the Postbank brand, said in a statement late on Wednesday.
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The deal is expected to be completed in the first quarter of 2019.
Following the acquisition, Eurobank Bulgaria will have a market share of over 10% and will be the third largest lender in terms of credit portfolio.
($ = 0.8741 euro)
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