- The sale of IBG, AEDAK and LFF was closed at EUR73.5m
Tassos Iosiphides, Partner and Head of Transaction Advisory Services of EY Greece and head of the project, commented: “We are happy to have contributed to the completion of the sale of Investment Bank of Greece, Laiki Factors & Forfaiters and CPB AEDAK to Ireon Investments Ltd (Motoroil Group). It is of high importance that, during a time when banks are trying to return to sustainable growth, an important investment was made to create a new banking scheme, in the context of reorganizing our banking system and enhancing the funding options of Greek businesses”.
Pleased with the successful completion of the sale, Stelios Demetriou, Partner and Head of Transaction Advisory Services of EY Cyprus commented: “Every deal has its risks that need to be considered when entering a project of this magnitude. Our team of experts have worked tirelessly over the last months to ensure we had the transaction structured properly, as well as its successful completion, while making sure that the requests of both parties have been met”.
Both EY Greece and EY Cyprus would like to particularly thank the Special Administrator of CPB, Mr. Cleovoulos Alexandrou, for his constructive cooperation during the process.