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27 May, 2024

Demetra Holdings challenges Eurobank-Hellenic merger

Legal appeal filed against competition commission's decision, alleging illegality and lack of legal validity


Demetra Holdings is seeking to overturn the National Competition Authority's (NCA) approval of the proposed merger between Eurobank and Hellenic Bank.

In a move outlined in a statement to the Stock Exchange, Demetra Holdings has appealed with the Administrative Court challenging the legality of the NCA's decision made on February 2, 2024. This decision, reached by a majority vote, deemed the acquisition of Hellenic Bank by Eurobank compatible with market competition.

The appeal filed by Demetra Holdings aims to invalidate the NCA's decision, alleging it to be illegal and lacking legal validity.

Cyprus  |  banks  |  merger

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