Following the approvals given by the appropriate regulatory authorities, the Portuguese Bank BPI and EFG Eurobank Ergasias SA (Eurobank) completed today November 14th 2003 in Bucharest, the transaction on the basis of which Eurobank acquired an additional 17% of the shares of the Romanian Bank “Banc Post S.A.”. This transaction had been initially agreed by the two parties on June 30th, 2003.
Consequently, EFG Eurobank Ergasias now owns 53.25% of Banc Post, thus being in line with its strategic objective, to acquire a controlling majority in the Romanian Bank. It is worth noting that EFG Eurobank Ergasias has also agreed with General Electric Capital Corp, for the purchase of an additional 8.75% of the shares of Banc Post, in the course of 2004. Following this forthcoming acquisition, EFG Eurobank Ergasias’ stake in Banc Post will reach 62%.