The EFG Eurobank Ergasias Group has agreed to acquire 100% of Attiki Kerdoos Ermis Securities from Bank of Attika (which controls 51% of Attiki Kerdoos Ermis Securities) and other shareholders.
The EFG Eurobank Ergasias Group has agreed to acquire 100% of Attiki Kerdoos Ermis Securities from Bank of Attika (which controls 51% of Attiki Kerdoos Ermis Securities) and other shareholders.
The completion of the transaction is subject to regulatory approvals by the authorities including the Capital Market Commission, Bank of Greece, as well as the completion of the accounting and legal due diligence.
Attiki Kerdoos Ermis was established by Anastasio Siafakas and is one of the oldest firms in the Greek stock market. In 2004, the firm ranked in the 19th place in terms of volume and its market share was 0.81%, with the private client business as its main activity.
The agreement for the acquisition of Attiki Kerdoos Ermis by EFG Eurobank Ergasias is consistent with the group policy to improve the quality of its services, in the capital markets segment. EFG Eurobank Securities, a fully owned subsidiary of the EFG Eurobank Ergasias Group, currently ranks as top broker in Greece in terms of market share. Specifically, according to January ranking, EFG Eurobank Securities holds a 16.08% market share in the ASE and 17.53% in ADEX. At the same time, recognizing a growing demand for access to international markets, EFG Eurobank Securities established a specialized International Markets team to serve the wealth management requirements of both individuals and institutions.
The forenamed agreement enhances the position of EFG Eurobank Securities in the Greek capital market by adding significant portfolios of individual investors that will be able to access the range of products and services offered by EFG Eurobank Group.