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12° Nicosia,
18 July, 2024
 

Major shareholders of Bank of Cyprus seek to sell 15% stake

CarVal Investors and Caius Capital appoint adviser; potential buyer includes Greece's Alpha Bank

Panayiotis Rougalas

Panayiotis Rougalas

Two major shareholders of Bank of Cyprus, CarVal Investors and Caius Capital, who together hold 15% of the bank's shares, are looking to sell their stake.

According to a Bloomberg report, the two shareholders have appointed an adviser to explore the possibility of selling their shares as a "package."

The news agency's reports suggest that one of the potential buyers could be Greece's major bank, Alpha Bank.

The shares of the two investors are worth £232 million, or €358 million.

About 1-2 years ago, there were rumors of talks between the Alpha Bank Group and Bank of Cyprus, which, however, have so far had no tangible result.

The market value of Bank of Cyprus is now €1.8 billion, and its shares are trading at €4.20 per share.

[Source: Bloomberg]

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Cyprus  |  banks

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