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Hellenic Bank Agrees with Metlife to Acquire Its Share in Hellenic Alico Life
October 31, 2019
Hellenic Bank Public Company Limited (the “Bank”) announces that on 29 October 2019 it signed a share-purchase agreement with MetLife Services Cyprus Limited (“MetLife”) for the acquisition of the entire participation interest of MetLife, equal to 27,5%, in the share capital of Hellenic Alico Life Insurance Company Limited (the “Company”). The transaction is subject to regulatory approvals and is expected to be completed in the first quarter of 2020.
Upon completion of the transaction, the Bank will own 100% of the share capital of the Company. The transaction has no material impact on the capital ratios or financial position of the Bank’s group.