Credit Agricole seals Emporiki sale to Alpha
2012-10-18 10:37:18
France’s Credit Agricole (CA) has approved the sale of its Greek subsidiary, Emporiki Bank, to Alpha Bank, the group said in a statement on Wednesday.
The sale, approved by the board of directors on Monday, is aimed for completion by December 31, 2012, on condition of approval by the competent authorities.
According to the deal, signed on Tuesday, Alpha Bank will acquire Emporiki for the nominal price of €1 after CA has completed Emporiki’s recapitalization with €2.85 billion.